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United Rentals : Announces Extension of Exchange Offer for URNA’s 4.875% Senior Notes due 2028

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12/07/2017 | 12:23am CET

United Rentals, Inc. (NYSE:URI) (“URI” or the “Company”) today announced that its subsidiary, United Rentals (North America), Inc. has extended the expiration date of its offer to exchange (the “Exchange Offer”) up to $750 million aggregate principal amount of its outstanding 4.875% Senior Notes due 2028 issued in a registered offering on September 22, 2017 (the “Old Notes”) for an equivalent amount of its new 4.875% Senior Notes due 2028 (the “New Notes”) registered under the Securities Act of 1933, as amended. As a result of the extension, the Exchange Offer is now scheduled to expire at 5:00 p.m., New York City time, on December 15, 2017 unless further extended.

The Exchange Offer was scheduled to expire on December 6, 2017 at 5:00 p.m., New York City time. As of 5:00 p.m. on December 6, 2017, $745,393,000 in aggregate principal amount, or 99.386% of the Old Notes had been validly tendered and not withdrawn. Except for the extension of the expiration date, all of the other terms of the Exchange Offer remain as set forth in the Exchange Offer prospectus, dated November 6, 2017, filed with the U.S. Securities and Exchange Commission (“SEC”).

Copies of the prospectus and the other Exchange Offer materials may be obtained from Wells Fargo Bank, National Association, the exchange agent for the offer. Please contact the exchange agent with any questions regarding the Exchange Offer at 600 Fourth Street South, 7th Floor, Minneapolis, MN 55402, Attn: Corporate Trust Operations, or by phone at: (800) 344-5128.

No Offer or Solicitation

This press release is for informational purposes only and is neither an offer to buy nor a solicitation to of an offer to sell any Old Notes or New Notes. The Exchange Offer is being made only pursuant to the Exchange Offer prospectus, which is being distributed to holders of the Old Notes and has been filed with the SEC as part of the Company’s registration statement on Form S-4 (File No. 333-221007), which was declared effective on November 6, 2017.

About United Rentals

United Rentals, Inc. is the largest equipment rental company in the world. Following the acquisition of Neff Corporation, the company has an integrated network of 1,019 rental locations in 49 states and every Canadian province. The company’s approximately 15,000 employees serve construction and industrial customers, utilities, municipalities, homeowners and others. The company offers approximately 3,300 classes of equipment for rent with a total original cost of $11.6 billion. United Rentals is a member of the Standard & Poor’s 500 Index, the Barron’s 400 Index and the Russell 3000 Index® and is headquartered in Stamford, Conn. Additional information about United Rentals is available at unitedrentals.com.

Important Notice Regarding Forward-Looking Statements

This press release contains certain forward-looking statements. Statements that are not historical facts, including statements about our perspectives and expectations, are forward-looking statements. The words "expect," "believe," "estimate," "intend," "plan" and similar expressions, when related to the Company and its subsidiaries, indicate forward-looking statements. These statements reflect the current view of management and are subject to various risks and uncertainties. These statements are based on various assumptions and factors, including general economic, market, industry and operational factors. Any changes to these assumptions or factors may lead to practical results different from current expectations. Excessive reliance should not be placed on those statements. Forward-looking statements relate only to the date they were made, and the Company and its subsidiaries undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made.

© Business Wire 2017
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Sales 2018 7 579 M
EBIT 2018 2 047 M
Net income 2018 1 189 M
Debt 2018 8 155 M
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P/E ratio 2018 12,41
P/E ratio 2019 10,92
EV / Sales 2018 2,99x
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Capitalization 14 538 M
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Average target price 179 $
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