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Actionable news in MGRC: McGrath RentCorp,

McGrath: 5700 Las Positas Road Livermore

The following excerpt is from the company's SEC filing.

California 94551

925 606 9200


Keith E. Pratt

Chief Financial Officer

McGrath RentCorp Announces Renewal of $420 Million Financing


- April 5, 2016 - 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, 2021 and replaces the Companys existing $420 million line of credit. Bank of America, N.A., served as Adminis trative Agent and MUFG Union Bank N.A., served as Syndication Agent. Merrill Lynch, Pierce, Fenner & Smith Incorporated served as the Sole Lead Arranger and Sole Book Runner.

The proceeds of the facility will be used for working capital, capital expenditures and other general corporate purposes. Additional...