RSC Equipment Rental, Inc. Announces Pricing of $200 Million, 10-Year Senior Notes
RSC Equipment Rental, Inc., the operating subsidiary of RSC Holdings,
Inc. (NYSE: RRR), announced today that it has priced an offering of $200
million aggregate principal amount of 10.25% senior unsecured notes due
2019. The senior notes are being co-issued by RSC Equipment Rental,
Inc.’s parent, RSC Holdings III, LLC.
Net proceeds from the sale of the senior notes, after initial
purchasers’ discount and fees and expenses incurred in connection with
the offering, will be approximately $192.1 million. The notes will be
sold to qualified institutional buyers in accordance with Rule 144A
under the Securities Act of 1933, as amended (the “Securities Act”) and
outside the United States in accordance with Regulation S under the
Securities Act. The company expects the offering to close on November
17, 2009 subject to customary closing conditions.
The company plans to use the full amount of the net proceeds from the
offering to prepay borrowings outstanding under its senior secured
second-lien term loan facility.
The senior notes have not been registered under the Securities Act and
may not be offered or sold in the United States absent registration or
an applicable exemption from registration requirements.
About RSC Holdings Inc. (NYSE: RRR) and RSC Equipment Rental, Inc.
Based in Scottsdale, Ariz., RSC Holdings Inc. is the holding company for
the operating entity, RSC Equipment Rental, Inc., which is a premier
provider of rental equipment in North America, servicing the industrial,
maintenance and non-residential construction markets with $2.4 billion
of equipment at original cost. RSC offers superior equipment
availability, reliability and 24x7 service to customers through an
integrated network of 464 branch locations across 40 states in the
United States and three provinces in Western Canada. Customer solutions
to improve efficiency and reduce cost include the proprietary Total
Control® rental management software, Mobile Tool Rooms™ and on-site
rental locations. With 4,300 employees committed to safety and
sustainability, RSC delivers the best value and industry leading
customer service. All information is as of September 30, 2009.
Additional information about RSC is available at www.RSCrental.com.
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