STAMFORD, Conn.--(BUSINESS WIRE)--United Rentals, Inc. (NYSE:URI) today announced that its subsidiary, United Rentals (North America), Inc. launched syndication of a $1 billion senior secured term loan B credit facility, which will be guaranteed by United Rentals and certain subsidiaries of URNA and secured by the same collateral as URNA’s existing senior secured asset-based revolving credit facility. The Term Loan B is expected to mature in October 2025; however, the terms and conditions and closing of the Term Loan B will depend on market and other conditions.

URNA intends to apply the proceeds of the Term Loan B to pay, in part, the purchase price with respect to the BlueLine Rental acquisition from Platinum Equity.

Bank of America Merrill Lynch will act as agent for the syndicated lenders and as joint lead arranger with Wells Fargo Securities, LLC and other potential arrangers.

About United Rentals

United Rentals is the largest equipment rental company in the world. As of August 31, 2018, the company had an integrated network of 1,074 rental locations in North America and 11 in Europe, with approximately 16,600 employees serving construction and industrial customers, utilities, municipalities, homeowners and others. The company offers approximately 3,800 classes of equipment for rent with a total original cost of $12.8 billion. United Rentals is a member of the Standard & Poor’s 500 Index, the Barron’s 400 Index and the Russell 3000 Index® and is headquartered in Stamford, Conn. Additional information about United Rentals is available at unitedrentals.com.