- Home Depot Quarterly Profit Tops Estimates
- Lehman Sues Barclays Over Windfall Profits
- US Top Banks Warn Congress on 'Break-Up' Risks
- Obama Nudges Hu on Yuan; to Ease Trade Tensions
- US Wants China to Buy into Its Small Banks
- Fed's Kohn Sees No Asset Bubbles Building in US
- UBS Targets $15 Billion Annual Profit in Mid-Term
- Buffett's Berkshire Hathaway Boosts Stake in Wal-Mart
- Microsoft Co-founder Allen Diagnosed with Cancer
- Answers to Your Questions: A Path to Economic Disaster?
- 5 Ways to Play the Chinese Markets: Analyst
- Meredith Whitney: Turns Bearish
- 3 Stock Plays on Rising College Costs
- Warren Buffett's Berkshire Hathaway Almost Doubles Wal-Mart Holdings During Summer
- Nov. 16: Unusual Volume Leaders
- Getting to the Heart of the Merck-Abbott Embargo Break
- What MGM's Sale Could Say About Value of Content
- My Ratings on Lowe's & Home Depot: Analyst
- Ahead of the Bell: Producer Price Index
- AP POLL: Tax the rich to pay for health bill
- Euro area posts unexpected trade surplus in Sept
- Methodology for AP poll on health care and taxes
- Irish seize 6 million cigarettes, arrest smuggler
- Areva in uranium enrichment deal with Czech plant
- Irish restaurants struggle to survive in recession
- Somalia still tops global corruption list
- PPR selling up to $1.5B stake in African unit CFAO
Text Size 
GREENWICH, Conn. - Equipment-rental company United Rentals Inc., along with its subsidiary, is offering up to $572.5 million in convertible senior unsecured notes, the company said Tuesday.
United Rentals' will offer $150 million in senior notes due 2015, plus offer an additional $22.5 million in notes to underwriters. Its subsidiary United Rentals North America's will offer $400 million in senior notes due 2019.
Net proceeds will be used to redeem a portion of the company's 14 percent senior notes due 2014. It will also use available cash on hand to pay the cost of the convertible note hedge transactions.
BofA Merrill Lynch, Wells Fargo Securities and Morgan Stanley are the joint book-running managers for both offerings. BofA Merrill Lynch is the lead book-running manager for United Rentals' convertible senior notes offering, while Wells Fargo Securities is the lead book-running manager for the company's subsidiary.
Shares of United Rentals fell 89 cents, or 9 percent, to $8.98 in midday trading.
Print
Email
- Infrastructure is an area of investment where returns can be rewarding.
- Where, what, how.
- The average cost of this year’s Thanksgiving dinner -- with all the fixings -- will cost you less than it did last year.
- CNBC's Jim Goldman asks: Has the sun begun to set on Twitter? Data suggests its best days are over.
- Everyone wanted a piece of Madoff's "Bullship"--the famous buoy sold for $7,500 at auction. You won't believe these prices.
- CNBC's Maria Bartiromo talks to rapper Snoop Dogg about brand identity in both business and music.
Data is a real-time snapshot *Data is delayed at least 15 minutes