United Rentals (North America), Inc. raised its European Swingline Sublimit to $40 million from $15 million and moved four subsidiaries into the European borrower group under an Oct. 23 amendment.
The amendment to the Fifth Amended and Restated Credit Agreement was filed with the Securities and Exchange Commission on Oct. 29. United Rentals (North America) is the borrower under the agreement, and United Rentals, Inc. is a guarantor. The European Swingline Lender agreed to the increase.
United Rentals International B.V., United Rentals B.V., United Rentals GmbH and United Rentals (Belgium) B.V. were reclassified from the ROW borrower group to the European borrower group. The amendment says it was requested to modify subsidiary guarantee provisions and designate certain ROW borrowers as European borrowers.
The amendment provides for the automatic release of United Rentals (Delaware), Inc., United Rentals Highway Technologies Gulf, LLC and United Rentals Realty, LLC as U.S. guarantors once they would no longer be required to become guarantors under Section 7.16(a), subject to an exception stated in the agreement. The Required Lenders consented to the release provisions.
