Bank of America Securities served as sole bookrunner and joint lead arranger for a renewed $420 million credit facility for McGrath RentCorp.
The five-year facility matures on March 31, 2025 and replaces McGrath’s existing $420 million line of credit. Bank of America served as administrative agent, U.S. Bank served as joint lead arranger and syndication agent. MUFG Union Bank and Wells Fargo Bank served as syndication agents.
The proceeds of the facility will be used for working capital, capital expenditures and other general corporate purposes.
McGrath RentCorp is a business-to-business rental company providing modular buildings, electronic test equipment, portable storage and tank containment solutions.