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UNITED RENTALS, INC. 8-K Report, Material Agreement (Sep 29, 2017)

Reports
Material Agreements·Financial Events·Exhibits & Filings
Filing Date
Filed September 29, 2017
Period End
September 29, 2017
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 ’18Oct ’18
  2. Leadership change8-K · Sep ’20Sep ’20
  3. Deal closed8-K · Dec ’22Dec ’22
  4. Material agreement8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K filed September 29, 2017. Cited figures are marked; the original filing is the authoritative source.

United Rentals, Inc. (URI) filed an 8-K on September 29, 2017, to announce an increase in its senior secured asset-based loan facility (ABL Facility).

Through a Lender Joinder Agreement, the company secured an additional $500 milliona in revolving credit commitments, bringing the total ABL Facility to $3,000 million, subject to borrowing base availability. This strategic move enhances the company's financial flexibility and capacity for operational needs or potential growth initiatives.

The increased credit facility maintains the same terms and conditions as the existing commitments and matures on June 8, 2021. This filing primarily concerns a material definitive agreement and the creation of a direct financial obligation.

02—Key points

Key Highlights

  1. United Rentals increased its senior secured asset-based loan facility (ABL Facility) by $500 million.
  2. The total ABL Facility capacity now stands at $3,000 million, subject to borrowing base availability.
  3. The increase was achieved through a Lender Joinder Agreement with Bank of America, N.A., as agent, and other lenders.
  4. The new commitments are under the Second Amended and Restated Credit Agreement, originally dated March 31, 2015.
  5. The ABL Facility maintains the same terms and conditions as existing commitments.
  6. The ABL Facility matures on June 8, 2021.
  7. This action enhances the company's financial flexibility and access to capital.

03—Questions

Frequently Asked Questions

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

    The primary purpose of this 8-K filing is to report the entry into a material definitive agreement, specifically a Lender Joinder Agreement, which increases the company's revolving credit commitments under its asset-based loan facility.

  2. How much did United Rentals increase its credit facility by?

    United Rentals increased its credit facility by an additional $500 million.

  3. What is the new total capacity of the ABL Facility?

    The new total capacity of the ABL Facility is $3,000 million, subject to availability under a borrowing base.

  4. When does the ABL Facility mature?

    The ABL Facility matures on June 8, 2021.

04—Continue

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