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September 05, 2015 9:10 AM ET

Trading Companies and Distributors

Company Overview of United Rentals (North America), Inc.

Company Overview

United Rentals (North America), Inc., through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench Safety, Power and HVAC (heating, ventilating and air conditioning), and Pump Solutions. The company offers approximately 3,300 classes of equipment for rent to construction and industrial companies, manufacturers, utilities, municipalities, homeowners, government entities, and other customers. Its fleet of rental equipment includes general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms consisting of boom lifts and s...

100 First Stamford Place

Suite 700

Stamford, CT 06902

United States

Phone:

203-622-3131

Key Executives for United Rentals (North America), Inc.

Chief Executive Officer and Director
Age: 61
Chief Financial Officer and Executive Vice President
Age: 56
Senior Vice President, General Counsel and Corporate Secretary
Age: 48
Principal Accounting Officer, Vice President and Controller
Age: 42
Executive Vice President
Age: 67
Compensation as of Fiscal Year 2015.

United Rentals (North America), Inc. Key Developments

James H. Ozanne Resigns from Board of Directors of United Rentals, Inc

Mr. James H. Ozanne, a member of the board of directors of United Rentals, Inc., notified the company of his decision to resign from the board of directors, effective May 18, 2015. Mr. Ozanne's resignation was for personal reasons and did not involve a disagreement on any matter relating to the company's operations, policies or practices.

United Rentals (North America), Inc. Announces Redemption of 5.75% Senior Secured Notes Due 2018 and 8.375% Senior Subordinated Notes Due 2020

On April 13, 2015, United Rentals (North America), Inc. (URNA) redeemed all of the outstanding $750 million principal amount of its 5.75% Senior Secured Notes due 2018 at a redemption price equal to 104.201% of the principal amount thereof plus accrued and unpaid interest thereon to the 5.75% Notes Redemption Date, in accordance with the terms of the Indenture dated as of March 9, 2012, between URNA, as successor-in-interest to UR Financing Escrow Corporation, and Wells Fargo Bank, National Association as Trustee and Notes Collateral Agent, as supplemented by the First Supplemental Indenture among URNA, United Rentals, Inc. and the subsidiaries named therein and the 5.75% Notes Trustee and 5.75% Notes Collateral Agent, dated as of April 30, 2012. URNA previously notified the holders of the 5.75% Notes on March 13, 2015 that it had elected to redeem the 5.75% Notes on the 5.75% Notes Redemption Date. URNA has irrevocably deposited with the 5.75% Notes Trustee sufficient funds to fund the redemption of the 5.75% Notes, comprising a portion of the net proceeds from its issuances of 4.625% Senior Secured Notes due 2023 and 5.500% Senior Notes due 2025, both of which closed on March 26, 2015. As a result, URNA and the Guarantors under the 5.75% Notes have been released from their respective obligations under the 5.75% Notes and the 5.75% Notes Indenture pursuant to the satisfaction and discharge provisions thereunder, effective as of the 5.75% Notes Redemption Date. Further, the liens on the collateral of URNA and the Guarantors securing the 5.75% Notes have been released. On April 13, 2015, URNA redeemed all of the outstanding $750 million principal amount of its 8.375% Senior Subordinated Notes due 2020 at a redemption price equal to 107.441% of the principal amount thereof plus accrued and unpaid interest thereon to the 8.375% Notes Redemption Date, in accordance with the terms of the Indenture dated as of October 26, 2010, among URNA, United Rentals, Inc. and certain subsidiaries named therein, and The Bank of New York Mellon as Trustee, as supplemented by the Supplemental Indenture among the Company, United Rentals, Inc. and certain subsidiaries listed therein, and the 8.375% Notes Trustee, dated as of December 1, 2010, and as supplemented by the Second Supplemental Indenture among the Company, United Rentals, Inc. and certain subsidiaries named therein, UR Merger Sub Corporation and the 8.375% Notes Trustee, dated as of April 30, 2012. URNA previously notified the holders of the 8.375% Notes on March 13, 2015 that it had elected to redeem the 8.375% Notes on the 8.375% Notes Redemption Date. URNA has irrevocably deposited with the 8.375% Notes Trustee sufficient funds to fund the redemption of the 8.375% Notes, comprising a portion of the net proceeds from its issuances of 4.625% Senior Secured Notes due 2023 and 5.500% Senior Notes due 2025, both of which closed on March 26, 2015. As a result, URNA and the Guarantors under the 8.375% Notes have been released from their respective obligations under the 8.375% Notes and the 8.375% Notes Indenture pursuant to the satisfaction and discharge provisions thereunder, effective as of the 8.375% Notes Redemption Date.

United Rentals, Inc. and United Rentals (North America), Inc. Enter into Second Amended and Restated Credit Agreement

United Rentals, Inc., United Rentals (North America), Inc. and certain of their subsidiaries announced that they entered into a Second Amended and Restated Credit Agreement which provides for a senior secured asset-based loan facility (the “ABL Facility”) of $2,500 million, a portion of which is available for borrowing in Canadian Dollars. The Second Amended and Restated Credit Agreement also provides for an uncommitted incremental increase in the ABL Facility of up to $1,250 million or more, depending on the value of borrowing base assets in excess of the initial maximum amount of the facility. The ABL Facility replaces the Company’s existing senior secured asset-based loan facility. Certain of the Company’s subsidiaries have provided guarantees under the ABL Facility. In addition, obligations under the facility are secured by certain first-priority security interests in the assets of the borrowers and the guarantors. Amounts drawn bear annual interest at either the LIBOR rate plus a margin of 1.25% to 1.75% or at a base rate (equal to the high of Bank of America’s prime rate, the federal funds rate plus 0.5%, or 30-day LIBOR plus 1.0%) plus a margin of 0.25% to 0.75%. The ABL Facility matures on March 31, 2020. At closing, approximately CAD 138 million was drawn and the borrowers had approximately $2,341 million available for additional borrowings, subject to borrowing base limitations.

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