SCOTTSDALE, Ariz.--(BUSINESS WIRE)--RSC Equipment Rental, Inc., the operating subsidiary of RSC Holdings Inc. (NYSE: RRR), announced that it increased the aggregate principal amount of its senior notes offering released earlier today from $450 million to $650 million and priced the offering of $650 million aggregate principal amount of 8¼% senior unsecured notes due 2021. The senior notes are being co-issued by RSC Equipment Rental, Inc.’s parent, RSC Holdings III, LLC.
The senior notes will be sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and outside the United States in accordance with Regulation S under the Securities Act. The company expects the offering to close on January 19, 2011 subject to customary closing conditions.
The issuers intend to use the gross proceeds from this offering to repay borrowings outstanding under the issuers’ senior secured second-lien term loan facility and terminate such facility, redeem a portion of the issuers’ 9½% senior notes due 2014, pay amounts equal to the economic liability associated with terminating interest rate swap agreements in connection with the termination of the second-lien term loan facility and pay the initial purchasers’ discounts and other fees and expenses incurred in connection with the offering.
The senior notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About RSC Holdings Inc. (NYSE: RRR) and RSC Equipment Rental, Inc.
RSC Holdings Inc. (NYSE: RRR), based in Scottsdale, Arizona, is the holding company for the operating entity RSC Equipment Rental, Inc., which is a premier provider of rental equipment in North America, servicing the industrial, maintenance and non-residential construction markets with $2.4 billion of equipment at original cost. RSC offers superior equipment availability, reliability and 24x7 service to customers through an integrated network of 457 branch locations across 40 states in the United States and three provinces in Western Canada. Customer solutions to improve efficiency and reduce cost include the proprietary Total Control(R) rental management software, Mobile Tool RoomsTM and on-site rental locations. With over 4,300 employees committed to safety and sustainability, RSC delivers the best value and industry leading customer service. All information is as of September 30, 2010. Additional information about RSC is available at www.RSCrental.com.