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UNITED RENTALS
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United Rentals : Offers Senior Notes to Help Fund Neff Acquisition

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09/09/2017 | 03:49am CET

United Rentals announced that its subsidiary United Rentals North America is offering $750 million principal amount of senior notes due 2025 and $750 million principal amount of 4.875-percent senior notes due 2028 in a registered public offering. The 2028 notes will have terms substantially identical to those of URNA’s 4.875-percent senior notes due 2028 issued last month.

Aggregate net proceeds from the sale of the notes are expected to be approximately $1.48 billion after underwriting discounts and commissions and payments of estimated fees and expenses. URNA intends to use the net proceeds to finance a portion of the $1.3 billion purchase price for the acquisition of Neff Rentals. Pending the closing of the Neff acquisition, the net proceeds from the offering will be used to repay borrowings under URNA’s senior secured asset-based revolving credit facility. URNA expects to then borrow under the ABL facility to fund the purchase price of the Neff acquisition.

If the Neff acquisition is not consummated on or before Aug. 16, 2018, URNA will be required to redeem the notes at a redemption price equal to 100 percent of the principal amount, plus interest.

United Rentals has 960 rental locations in 49 states and every Canadian province. Based in Stamford, Conn., United Rentals is No. 1 on the RER 100.

© 2017 Penton Media, source Trade Journals Open Web

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2017United Rentals Stock Is Positioned For Outperformance 
Financials ($)
Sales 2018 7 579 M
EBIT 2018 2 047 M
Net income 2018 1 189 M
Debt 2018 8 155 M
Yield 2018 -
P/E ratio 2018 12,41
P/E ratio 2019 10,92
EV / Sales 2018 2,99x
EV / Sales 2019 2,66x
Capitalization 14 538 M
Chart UNITED RENTALS
Duration : Period :
United Rentals Technical Analysis Chart | 4-Traders
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 179 $
Spread / Average Target 4,3%
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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