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URI > SEC Filings for URI > Form 8-K on 19-Dec-2013All Recent SEC Filings

Show all filings for UNITED RENTALS INC /DE

Form 8-K for UNITED RENTALS INC /DE


19-Dec-2013

Entry into a Material Definitive Agreement, Creation of a Direct Financial


Item 1.01 Entry into a Material Definitive Agreement.

On December 19, 2013, United Rentals, Inc. (the "Company") and certain of the Company's subsidiaries entered into an incremental assumption agreement (the "Incremental Assumption Agreement") with Bank of America, N.A., as agent, and the lenders party thereto (the "Increasing Lenders"), pursuant to which the Increasing Lenders agreed to provide additional U.S. revolving credit commitments of $400 million (the "ABL Commitment Increase") under the Amended and Restated Credit Agreement, dated as of October 14, 2011, as amended as of December 16, 2011 and as of June 28, 2013 (the "Amended and Restated Credit Agreement"), among the Company, United Rentals (North America), Inc., United Rentals of Canada, Inc., United Rentals Financing Limited Partnership and certain other subsidiaries of the Company and Bank of America, N.A., Wells Fargo Capital Finance, LLC, Citigroup Global Markets Inc., Morgan Stanley Senior Funding, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and the other financial institutions party thereto.

Pursuant to the ABL Commitment Increase, the aggregate amount available under the Amended and Restated Credit Agreement's senior secured asset-based loan facility (the "ABL Facility") was increased to $2,300 million (subject to availability under a borrowing base), a portion of which is available for borrowing in Canadian Dollars.

The ABL Commitment Increase is subject to the same terms and conditions as all other U.S. revolving credit commitments under the Amended and Restated Credit Agreement. The terms of the Incremental Assumption Agreement do not modify the Amended and Restated Credit Agreement other than to provide the ABL Commitment Increase. The ABL Facility matures on October 13, 2016.



Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant.

Information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.



Item 9.01 Financial Statements and Exhibits.

10.1 Incremental Assumption Agreement, dated as of December 19, 2013, among United Rentals, Inc., United Rentals (North America), Inc., United Rentals of Canada, Inc., United Rentals Financing Limited Partnership and certain other subsidiaries of United Rentals, Inc. and Bank of America, N.A., as agent, and the lenders party thereto.


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