McGrath RentCorp, a business-to-business rental company in North America, completed a $725 million credit facility with a syndicate of banks. The five-year facility matures on May 8, 2031, and replaces the company’s existing $650 million line of credit. Bank of America served as joint lead arranger, sole bookrunner and administrative agent. U.S. Bank and Wells Fargo Bank served as joint lead arrangers and co-syndication agents.
The proceeds of the facility will be used for working capital, capital expenditures and other general corporate purposes.
