McGrath RentCorp has amended its note purchase agreement, resulting in the issuance of $75 million in new senior notes and an increase in its revolving private shelf facility to $350 million. The amendment, effective November 2, 2026, also modified certain terms of the agreement, including increasing the thresholds for specific events of default.
Key Details
- Note Issuance: Issued and sold $75 million of 6.53% Series H Senior Notes, which are unsecured and mature on November 2, 2031. Interest is payable semi-annually.
- Facility Expansion: Increased the aggregate amount of its revolving private shelf facility to $350 million, allowing for the potential future issuance of additional senior notes (Shelf Notes).
- Covenant Changes: Amended certain terms of the agreement, including increasing the cross-default and judgment thresholds for events of default from $10 million to $20 million.