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Mcgrath Rentcorp Announces Completion Of $650 Million Financing

Mcgrath Rentcorp Announces Completion Of $650 Million Financing

07/19/22, 10:03 PM
Money raised
$650 million
McGrath RentCorp (NASDAQ: MGRC) (the “Company”), a diversified business-to-business rental company, today announced that it has completed a $650 million credit facility with a syndicate of banks. The five year facility matures on July 15, 2027 and replaces the Company’s existing $420 million line of credit. BofA Securities, Inc. served as Joint Lead Arranger and Sole Bookrunner

Company Info

Company
Mcgrath Rentcorp
Additional Info
McGrath RentCorp is a leading business-to-business rental company in North America, with a focus on modular solutions through its Mobile Modular and Mobile Modular Portable Storage businesses, along with electronic test equipment rental solutions through its TRS-RenTelco business. The company's rental product offerings and services contribute to the circular supply economy, helping customers work more efficiently and manage their environmental footprint sustainably. With over 40 years of experience, McGrath has demonstrated a strong record of profitable business growth, driven by a focus on exceptional customer experiences.