McGrath RentCorp renews five-year $420 million revolver

By Wendy Van Sickle

Columbus, Ohio, April 1 – McGrath RentCorp renewed its $420 million credit facility with a syndicate of banks, according to a news release.

The renewed five-year facility matures on March 31, 2025.

BofA Securities, Inc. was the bookrunner and a joint lead arranger along with U.S. Bank NA.

Bank of America, NA is administrative agent, and U.S. Bank, MUFG Union Bank NA and Wells Fargo Bank, NA are syndication agents.

The proceeds of the facility will be used for working capital, capital expenditures and other general corporate purposes.

McGrath RentCorp is a business-to-business rental company based in Livermore, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.