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United Rentals to redeem $850 million 5¾% senior notes due 2024
By Wendy Van Sickle
Columbus, Ohio, April 26 – United Rentals, Inc. said subsidiary United Rentals (North America), Inc. gave notice of its intention to redeem all its $850 million of 5¾% senior notes due 2024.
The notes will be redeemed on May 26 at a redemption price of 102.875 plus accrued interest up to but excluding the redemption date, according to a press release.
United Rentals expects to use proceeds from its sale of $750 million of 5¼% senior notes due 2030 and borrowings of $133 million under its senior secured asset-based revolving credit facility to redeem the notes, the release said.
Wells Fargo Bank NA is the trustee.
United Rentals is a Stamford, Conn.-based equipment rental company.
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