United Rentals, Inc. announced that its subsidiary, United Rentals, Inc. (URNA) launched syndication of a $1 billion senior secured term loan B credit facility (the “Term Loan B”), 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.