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United Rentals


S-4/A
UNITED RENTALS NORTH AMERICA INC filed this Form S-4/A on 11/02/2017
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effectively junior to approximately $1.5 billion of URNA's secured obligations, comprised of:

 

$305 million of URNA's outstanding borrowings under the our senior secured asset-based revolving credit facility (the "ABL Facility"), (excluding $2.5 billion of additional borrowing capacity, net of outstanding letters of credit of $39 million),

 

$1.0 billion principal amount of 45/8% Senior Secured Notes due 2023,

 

URNA's guarantee obligations in respect of $111 million of the outstanding borrowings of the subsidiary guarantors under the ABL Facility,

 

$55 million in capital leases, and

 

URNA's guarantee obligations in respect of $7 million of capital leases of the subsidiary guarantors; and

 

effectively junior to:

 

$667 million of indebtedness of URNA's special purpose vehicle in connection with the accounts receivable securitization facility,

 

$2 million of capital leases of Holdings, and

 

$5 million of capital leases of URNA's subsidiaries that are not guarantors.

 

Most of URNA's U.S. receivable assets have been sold to a special purpose vehicle in connection with the accounts receivable securitization facility (the accounts receivable in the collateral pool being the lenders' only source of payment under that facility).

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