Onsite Rental Group to launch $365 million term loan on Wednesday

By Sara Rosenberg

New York, July 7 – Onsite Rental Group is scheduled to hold a bank meeting at 10 a.m. ET in New York on Wednesday to launch a $365 million seven-year first-lien covenant-light term loan, according to a market source.

Credit Suisse Securities (USA) LLC and UBS AG are the lead banks on the deal.

The company is also getting a A$40 million cash flow revolver, the source said.

Proceeds will be used to refinance existing debt and fund a dividend.

Commitments are due on July 23, the source added.

Onsite Rental is an Australian industrial rental equipment company.

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