Neff Rental LLC (the "Company") announced the launch of syndication of a new $525 million 2nd lien term loan facility (the “Term Loan”). Proceeds from the Term Loan will be used to redeem the existing 9.625% Senior Secured Notes, to fund a distribution to shareholders and to pay fees and expenses associated with the transaction.
Concurrent with the Term Loan financing, the Company is also seeking an amendment to its $375 million ABL revolving credit facility to allow for the Term Loan financing and to potentially upsize the facility.
About Neff Rental LLC
Neff Rental LLC is a leading U.S. equipment rental company, with a network of 64 branches located primarily in the sunbelt states.
- Term Loan
Mark Irion, 305-513-3350
Chief Financial Officer