<a href="https://laohu8.com/S/MGRC">McGrath RentCorp</a> Secures $75 Million Financing Through 5.30% Series G Senior Notes Agreement with Prudential and PruCo
On September 8, 2025, McGrath RentCorp entered into a significant financial agreement with The Prudential Insurance Company of America and PruCo Life Insurance Company of New Jersey. The company issued $75 million in 5.30% Series G Senior Notes, as per the terms of the Second Amended and Restated Note Purchase and Private Shelf Agreement, originally dated June 8, 2023. This unsecured obligation, guaranteed by McGrath RentCorp's U.S. subsidiaries-Mobile Modular Management Corporation, Enviroplex, Inc., and Vesta Housing Solutions Holdings, LLC-will mature on September 8, 2032. The agreement outlines standard covenants, including a maximum leverage ratio and a minimum fixed charge coverage ratio, and specifies conditions for prepayment and events of default. Interest on the Notes is set to be paid semi-annually starting March 8, 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. McGrath RentCorp published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000950170-25-113536), on September 08, 2025, and is solely responsible for the information contained therein.
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