debt
confidence high
sentiment neutral
materiality 0.55
Sunbelt Rentals issues $1.2B in senior notes: $450M 4.950% due 2030, $750M 5.650% due 2036
Sunbelt Rentals Holdings, Inc.
- Issued $450M 4.950% Senior Notes due 2030 at 99.627% and $750M 5.650% Senior Notes due 2036 at 99.048%.
- Notes mature August 12, 2030 and August 12, 2036 respectively; interest payable semi-annually starting Feb 12, 2027.
- Notes rank equally with existing senior debt; guaranteed by domestic subsidiaries that guarantee revolving credit facility.
- Redemption options: 2030 Notes redeemable at any time prior to July 12, 2030 at specified prices; 2036 Notes redeemable prior to May 12, 2036.
- Change of control trigger requires repurchase at 101% of principal plus accrued interest.