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4-Traders Homepage  >  Equities  >  Nyse  >  United Rentals, Inc.    URI

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United Rentals : Announces Full Redemption of 7.625% Senior Notes Due 2022

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10/05/2017 | 11:07pm CEST

By a News Reporter-Staff News Editor at Journal of Transportation -- United Rentals, Inc. (NYSE: URI) announced that its subsidiary, United Rentals (North America), Inc. ("URNA"), has given notice of its intention to redeem all of the remaining outstanding $225 million principal amount of its 7.625% Senior Notes due 2022 (CUSIP Number 911365AZ7) (the "Notes") on October 25, 2017 (the "Redemption Date"). The Notes will be redeemed at a redemption price of 103.813% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the Redemption Date.

URNA has instructed Wells Fargo Bank, National Association, as the trustee for the Notes, to distribute a Notice of Redemption to all registered holders of the Notes on September 25, 2017. Copies of such Notice of Redemption and additional information relating to the procedure for redemption of the Notes may be obtained from Wells Fargo Bank, National Association by calling 1-800-344-5128.

URNA expects to use borrowings under its senior secured asset-based revolving credit facility to redeem the Notes and to pay related expenses.

The redemption is subject to, and conditioned upon sufficient funds being available to be drawn by URNA under its senior secured asset-based revolving credit facility at the time URNA is required to deposit the redemption price with the trustee for the Notes to fund the redemption, and such funds being disbursed when requested by URNA. The Redemption Date may be delayed until such time as the condition precedent shall be satisfied. In the event that such condition precedent has not been so satisfied by the Redemption Date, or by the Redemption Date as so delayed, the Notice of Redemption will be rescinded upon notice to the trustee and will be of no force or effect for any purpose.

Keywords for this news article include: Rental and Leasing Service Companies.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2017, NewsRx LLC

(c) 2017 NewsRx LLC, source Business Newsletters

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Financials ($)
Sales 2017 6 512 M
EBIT 2017 1 687 M
Net income 2017 748 M
Debt 2017 8 583 M
Yield 2017 -
P/E ratio 2017 17,69
P/E ratio 2018 13,78
EV / Sales 2017 3,19x
EV / Sales 2018 2,73x
Capitalization 12 213 M
Chart UNITED RENTALS, INC.
Duration : Period :
United Rentals, Inc. Technical Analysis Chart | URI | US9113631090 | 4-Traders
Technical analysis trends UNITED RENTALS, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 140 $
Spread / Average Target -3,2%
EPS Revisions
Managers
NameTitle
Michael J. Kneeland President, Chief Executive Officer & Director
Jenne K. Britell Non-Executive Chairman
Matthew John Flannery Chief Operating Officer & Executive Vice President
William B. Plummer Chief Financial Officer & Executive Vice President
Dale A. Asplund Chief Information Officer & SVP-Business Services
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