McGrath RentCorp renewed its $420 million credit facility with a syndicate of banks. The five-year facility matures on March 31, 2021 and replaces the company’s existing $420 million line of credit.

Bank of America served as administrative agent, and MUFG Union Bank served as syndication agent. Merrill Lynch served as the sole lead arranger and sole book runner.

The proceeds of the facility will be used for working capital, capital expenditures and other general corporate purposes.

Livermore, CA-based McGrath RentCorp is a diversified business-to-business rental company.