United Rentals Completes $2.5 Billion Senior Notes Offering

United Rentals North America completed a $2.5 billion offering of senior unsecured notes due 2029, 2031 and 2036, bearing interest rates of 5.550%, 5.750% and 6.200%, respectively, and guaranteed by United Rentals. The company received approximately $2.476 billion in net proceeds, using $975 million to repay term loans and the remainder for general corporate purposes, including reducing other borrowings. An amendment to its credit agreement also raised the European swingline loan limit to $40 million and released certain subsidiary guarantees and liens after the notes’ investment-grade ratings and term-loan repayment.