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RSC Equipment To Raise $650M

RSC Equipment Rental is raising $650 million in a sale of senior notes in the 144a private placement market.

RSC Equipment Rental is raising $650 million in a sale of senior notes in the 144a private placement market. The proceeds will be used to repay borrowings outstanding under a senior secured second-lien term loan facility and partly redeem 9½% senior notes due 2014.

The rental equipment provider appointed Deutsche Bank, Bank of America Merrill Lynch, Wells Fargo Securities, Barclays, JP Morgan and Goldman Sachs as the joint bookrunning managers for the deal, adds Reuters. The notes carry a coupon rate of 8.25% and are due to mature on Feb. 1, 2021.

Click here for the release from Business Wire.

from Reuters.

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