AMERCO closes $600M senior unsecured note issuance across five tranches with 2.55%-2.88% rates

U-Haul Holding Co /NV/

Issued $600M aggregate principal in five series: $100M each of 2.55% due 2030, 2.60% due 2031, 2.68% due 2032; $150M each of 2.73% due 2033, 2.88% due 2035.
Notes funded on January 27, 2022 at 100% of par; interest payable semiannually on Jan 27 and Jul 27.
Proceeds used for general corporate purposes; notes are senior unsecured obligations ranking at least pari passu with other unsecured senior debt.
Covenants include minimum fixed charge coverage, unencumbered property value, and maximum subsidiary unencumbered leverage ratios.
Guaranteed by subsidiaries that guarantee any material credit facility; customary events of default apply.

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