Amerco to sell $275 million seven-year notes

By Paul A. Harris

St. Louis, Mo., Sept. 27 - Details are expected to emerge Monday on Amerco's Rule 144A offering of $275 million senior notes due 2009, according to market sources. The deal was announced Friday in a press release from the company.

Proceeds from the deal will be used to repay all outstanding borrowings under its revolving credit facility and for general corporate purposes.

The issuer is a holding company for its subsidiaries U-Haul International, Inc., Amerco Real Estate Company, Republic Western Insurance Co. and Oxford Life Insurance Co. It is headquartered in Reno, Nevada.

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