Canadian Treasurer

Oct 18, 2011

Kaye Scholer represents Bank of America Merrill Lynch in $1.8 billion financing for United Rentals

Kaye Scholer LLP has announced that it represented Bank of America, N.A., as administrative agent and a lender, and Merrill Lynch, Pierce, Fenner & Smith Incorporated as lead arranger, in a $1.8 billion U.S. and Canadian revolving credit facility extended to United Rentals ( North America), Inc. and United Rentals of Canada, Inc. and certain of their affiliates.  The facility provides United Rentals the right under certain circumstances to increase the size of the overall facility to $2.3 billion. Proceeds of the facility will be available to refinance certain existing debt and for ongoing working capital needs of United Rentals.  The Kaye Scholer team included Partners Gary Bernstein and Sheryl Gittlitz, Special Counsel Al Fenster, Associates Jeff Misher and Tiffany Graddick, and Corporate Finance Transaction Analyst Paul Somelofske.  The deal closed on Friday, October 14th. 



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