debt
confidence high
sentiment neutral
materiality 0.55
AMERCO issues $600M senior unsecured notes at 2.59% weighted avg rate across four tranches
U-Haul Holding Co /NV/
- Four $150M tranches: 2.43% due 2029, 2.51% due 2030, 2.63% due 2031, 2.78% due 2033.
- Weighted average interest of 2.59%; proceeds for general corporate purposes and U-Haul expansion.
- Notes are senior unsecured, rank pari passu with other unsecured senior debt, and guaranteed by certain subsidiaries.
- Financial covenants include minimum fixed charge coverage, unencumbered property value, and leverage ratios.
- Private placement exempt from registration under Section 4(a)(2) of the Securities Act.