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UNITED RENTALS, INC. 8-K Report, Material Agreement (Feb 4, 2013)

Reports
Material Agreements·Financial Events·Exhibits & Filings
Filing Date
Filed February 4, 2013
Period End
February 1, 2013
Security
URI
In the record · 2016–202610-K1110-Q328-K170

URI filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 170 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Oct ’17Oct ’17
  2. Leadership change8-K · May ’19May ’19
  3. Material agreement8-K · Aug ’21Aug ’21
  4. Material agreement8-K · Aug ’25Aug ’25

01—Abstract

Summary

Summary of the 8-K filed February 4, 2013. Cited figures are marked; the original filing is the authoritative source.

United Rentals, Inc. (URI) filed an 8-K on February 4, 2013, to report an amendment to its existing Accounts Receivable Facility.

The primary purpose of this amendment, effective February 1, 2013, was to increase the facility's overall purchase limit and introduce Bank of America, N.A. as a new party to the agreement. This amendment signifies an expansion of the company's financing capacity, increasing the aggregate commitments from $475 million to $550 milliona.

This enhanced liquidity is crucial for a company like United Rentals, supporting its ongoing operations, potential acquisitions, or capital expenditures. The addition of a major financial institution like Bank of America as a participant further solidifies the creditworthiness and financial flexibility of the company.

02—Key points

Key Highlights

  1. Amendment to the Third Amended and Restated Receivables Purchase Agreement effective February 1, 2013.
  2. Increase in the total purchase limit of the Accounts Receivable Facility from $475,000,000 to $550,000,000.
  3. Bank of America, N.A. acceded to the agreement as a purchaser agent and a bank, increasing the overall commitment.
  4. The Bank of Nova Scotia assigned a portion of its rights and obligations to Bank of America, N.A.
  5. The amendment primarily accommodates the addition of Bank of America and the increased facility size.
  6. Advances under the facility will continue to be reflected as debt on the balance sheets.
  7. The increase in financing capacity provides greater financial flexibility for the company.

03—Questions

Frequently Asked Questions

  1. What is the main purpose of this 8-K filing?

    The main purpose of this 8-K filing is to report an amendment to United Rentals' Accounts Receivable Facility. This amendment increases the total financing available under the facility and adds Bank of America, N.A. as a new participating bank.

  2. How much did the Accounts Receivable Facility increase?

    The aggregate commitments under the Accounts Receivable Facility were increased from $475,000,000 to $550,000,000.

  3. What is the impact of this amendment on United Rentals' financial obligations?

    Advances made under the amended facility will continue to be recorded as debt on United Rentals' condensed consolidated balance sheets, and the receivables in the collateral pool will be reflected as assets on the consolidated balance sheets. This amendment enhances the company's liquidity and financial flexibility.

  4. Who are the main parties involved in this amendment?

    The key parties involved include United Rentals, Inc., United Rentals Receivables LLC II (the SPV), Liberty Street Funding LLC, Market Street Funding LLC, Gotham Funding Corporation, The Bank of Nova Scotia, PNC Bank National Association, The Bank of Tokyo-Mitsubishi UFJ, Ltd., and the new entrant, Bank of America, N.A.

04—Continue

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