secwatch.observer — SEC 8-K summary
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Issuer:     MCGRATH RENTCORP (MGRC)
CIK:        0000752714
Form:       8-K
Filed at:   2023-06-13T23:59:59+00:00
Accession:  0000950123-23-005703
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

McGrath RentCorp enters $300M note purchase agreement, amends existing $100M notes
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- New Second Amended and Restated Note Purchase Agreement with PGIM, Inc. for up to $300M in Shelf Notes.
- Amends $40M 2.57% Series D Senior Notes due 2028 and $60M 2.35% Series E Senior Notes due 2026.
- Shelf Notes may be issued up to $300M aggregate (less outstanding notes), maturing up to 15 years from issuance.
- Covenants include maximum leverage ratio and minimum fixed charge coverage ratio; customary events of default.
- Three U.S. subsidiaries guarantee obligations: Mobile Modular, Enviroplex, and Vesta Housing Solutions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/752714/000095012323005703/0000950123-23-005703-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/752714/000095012323005703/mgrc-20230608.htm
  HTML page:      https://secwatch.observer/filing/0000950123-23-005703

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer