LIVERMORE, Calif., April 01, 2020 (GLOBE NEWSWIRE) — McGrath RentCorp (NASDAQ: MGRC) (the “Company”), a diversified business-to-business rental company, today announced that it has renewed its $420 million credit facility with a syndicate of banks.  The five year facility matures on March 31, 2025 and replaces the Company’s existing $420 million line of credit.  BofA Securities, Inc. served as Sole Bookrunner and Joint Lead Arranger.  Bank of America, N.A. served as Administrative Agent, U.S. Bank National Association served as Joint Lead Arranger and Syndication Agent, and MUFG Union Bank N.A. and Wells Fargo Bank, N.A. served as Syndication Agents.
The proceeds of the facility will be used for working capital, capital expenditures and other general corporate purposes.  Additional information regarding the new credit facility is available in the Company’s current report on Form 8-K, to be filed with the SEC on April 3, 2020.ABOUT MCGRATH RENTCORP:
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