United Rentals to redeem all $14.68 million of 6½% Quips due 2028

By Tali David

Minneapolis, May 13 - United Rentals Inc. said its subsidiary intends to redeem $14,681,750 of its 6½% convertible quarterly income preferred securities due Aug. 1, 2028, according to a press release.

The trust will redeem the preferreds with proceeds from the redemption by United Rentals of all of its remaining outstanding 6½% convertible subordinated debentures due Aug. 1, 2028.

The preferreds will be redeemed at par plus accrued interest on June 13.

The Bank of New York Mellon is the trustee.

United Rentals is a Greenwich, Conn.-based equipment rental company.

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