United Rentals buys back $130 million of notes for $82 million

By Susanna Moon

Chicago, Jan. 20 - United Rentals, Inc. said it repurchased $130 million principal amount of outstanding 6½% senior notes due 2012, 7¾% senior subordinated notes due 2013 and 7% senior subordinated notes due 2014.

The company repurchased the notes for $82 million in the open market during the fourth quarter.

In connection with the repurchases, the company anticipates recognizing a pre-tax gain of $45 million in the fourth quarter, representing the difference between the net carrying amount of the securities and the total repurchase price.

The issuer is a Greenwich, Conn., equipment rental company.

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