United Rentals Announces Cash Tender Offers and Consent Solicitations for Outstanding 6 1/2% Senior Notes Due 2012, 7 3/4% Senior Subordinated Notes Due 2013 and 7% Senior Subordinated Notes Due 2014



    GREENWICH, CONN., October 16 /CNW/ - United Rentals, Inc. (NYSE:   URI)
(the "company") announced today that its wholly owned subsidiary, United
Rentals (North America), Inc. ("URNA"), has commenced cash tender offers and
consent solicitations for all of its outstanding 6 1/2% Senior Notes due 2012
(the "6 1/2% Notes"), 7 3/4% Senior Subordinated Notes due 2013 (the "7 3/4%
Notes") and 7% Senior Subordinated Notes due 2014 (the "7% Notes" and together
with the 6 1/2% Notes and the 7 3/4% Notes, the "Notes"). The Notes are
comprised of (i) $1.0 billion principal amount of 6 1/2% Notes issued under an
indenture dated as of February 17, 2004, as supplemented by a supplemental
indenture dated as of September 19, 2005 (CUSIP No. 911365AN4), (ii) $525
million principal amount of 7 3/4% Notes issued under an indenture dated as of
November 12, 2003, as supplemented by a supplemental indenture dated as of
September 19, 2005 (CUSIP No. 911365AL8), and (iii) $375 million principal
amount of 7% Notes issued under an indenture dated as of January 28, 2004, as
supplemented by a supplemental indenture dated as of September 19, 2005 (CUSIP
No. 911365AQ7). The tender offers and consent solicitations are being
conducted in connection with the anticipated merger (the "Merger") of RAM
Acquisition Corp., an entity indirectly controlled by affiliates of Cerberus
Capital Management, L.P., with and into the company. The tender offers and
consent solicitations are being made pursuant to URNA's Offer to Purchase and
Consent Solicitation Statement, dated October 16, 2007, which more fully sets
forth the terms and conditions of the tender offers and consent solicitations.

    The tender offers and consent solicitations are made upon the terms and
conditions in the Offer to Purchase and Consent Solicitation Statement and
related Consent and Letter of Transmittal, dated October 16, 2007. The tender
offers will expire at 12:00 midnight, New York City time, on November 13,
2007, unless extended or earlier terminated (the "Expiration Date"). URNA
reserves the right to terminate, withdraw or amend the tender offers and
consent solicitations at any time, subject to applicable law. The consent
solicitations will expire at 5:00 p.m., New York City time, on October 29,
2007, unless extended (the "Consent Date").

    Under the terms of the tender offers, the total consideration for each
$1,000 principal amount of Notes tendered will be determined on October 29,
2007 or at URNA's discretion a date not later than the tenth business day
before the Expiration Date. The total consideration for each $1,000 principal
amount of Notes (the "Total Consideration") validly tendered and accepted for
purchase pursuant to the tender offers will be determined as specified in the
Offer to Purchase and Consent Solicitation Statement, dated October 16, 2007,
on the basis of a yield to the first redemption date of such Notes equal to 50
basis points over a yield calculated with reference to U.S. Treasury
Securities.

    In conjunction with the tender offers, URNA is also soliciting the
consent of holders of the Notes to eliminate substantially all of the
restrictive covenants and certain events of default under the indentures for
the Notes, and to make certain other amendments to such indentures. Holders
cannot tender their Notes without delivering the related consents and cannot
deliver consents without tendering their Notes. In order for the proposed
amendments to the indenture governing a particular series of Notes to be
adopted, URNA must receive consents from holders of Notes representing a
majority in principal amount of such series of Notes. Any Notes tendered
before the Consent Date may be withdrawn at any time on or prior to 5:00 p.m.,
New York City time, on the Consent Date, but not thereafter. Any Notes
tendered after the Consent Date may not be withdrawn.

    URNA will pay a consent payment, which is included in the Total
Consideration paid on the Notes in respect of the tender offers, of $30.00 per
$1,000 principal amount of Notes validly tendered on or prior to the Consent
Date if such Notes are accepted for purchase pursuant to the tender offers.
Holders who tender their Notes after the Consent Date will not receive the
consent payment.

    URNA reserves the right, at any time following the Consent Date but prior
to the Expiration Date (the "Early Acceptance Time"), to accept for purchase
all Notes validly tendered prior to the Early Acceptance Time. If URNA elects
to exercise this option, it will pay the Total Consideration (as to all Notes
validly tendered prior to the Consent Date) and the tender offer
consideration, which is the Total Consideration less the consent payment (as
to all Notes validly tendered after the Consent Date), with respect to such
Notes on a date designated by URNA promptly following the Early Acceptance
Time, subject to the terms and conditions of the tender offers.

    The closing of the tender offers is subject to certain conditions,
including, among others: (i) the closing of new credit facilities providing
for up to $2.5 billion of senior secured financing, (ii) receipt of gross
proceeds of up to $4.0 billion from additional debt financing, (iii) the
consummation of the Merger and (iv) receipt of the required consents from
holders of Notes to amend the indentures for the Notes. However, pursuant to
the terms of the Agreement and Plan of Merger, dated as of July 22, 2007 (the
"Merger Agreement"), the consummation of the Merger is not subject to any debt
financing condition or the closing of the tender offers.

    URNA has retained Credit Suisse Securities (USA) LLC, Banc of America
Securities LLC, Morgan Stanley & Co. Incorporated and Lehman Brothers Inc. to
serve as the Dealer Managers and Solicitation Agents for the tender offers and
consent solicitations. Requests for documents may be directed to D.F. King &
Co., Inc., the Information Agent, by telephone at (800) 488-8095 (toll-free)
or (212) 269-5550 (collect). Questions regarding the tender offers and consent
solicitations may be directed to Credit Suisse Securities (USA) LLC, at (212)
325-4951 (collect), Banc of America Securities LLC, at (888) 292-0070
(toll-free) or (704) 388-9217 (collect), Morgan Stanley & Co. Incorporated, at
(800) 624-1808 (toll-free) or (212) 761-1864 (collect), or Lehman Brothers
Inc. at (800) 438-3242 (toll-free) or (212) 528-7581 (collect).

    This press release is for informational purposes only and is not an offer
to purchase, a solicitation of an offer to purchase or a solicitation of
consents with respect to any securities nor is this release an offer or
solicitation of an offer to sell any securities. The offers are being made
solely by the Offer to Purchase and Consent Solicitation Statement and related
Consent and Letter of Transmittal, dated October 16, 2007.

    Any securities that may be offered in connection with the company's
refinancing plan will be offered pursuant to an exemption from registration
under the Securities Act of 1933. Such securities will not be registered under
the Securities Act of 1933 and, accordingly, may not be offered or sold in the
United States absent registration under the Securities Act or an applicable
exemption from the registration requirements.

    About United Rentals

    United Rentals, Inc. is the largest equipment rental company in the
world, with an integrated network of over 690 rental locations in 48 states,
10 Canadian provinces and Mexico. The company's more than 11,500 employees
serve construction and industrial customers, utilities, municipalities,
homeowners and others. The company offers for rent over 20,000 classes of
rental equipment with a total original cost of $4.3 billion. United Rentals is
a member of the Standard & Poor's MidCap 400 Index and the Russell 2000
Index(R) and is headquartered in Greenwich, Conn. Additional information about
United Rentals is available at www.unitedrentals.com.

    Forward-Looking Statements

    Certain statements in this press release are forward-looking statements
within the meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements can generally be identified by
words such as "believes," "expects," "plans," "intends," "projects,"
"forecasts," "may," "will," "should," "on track" or "anticipates," or the
negative thereof or comparable terminology, or by discussions of vision,
strategy or outlook. Our businesses and operations are subject to a variety of
risks and uncertainties, many of which are beyond our control, and,
consequently, actual results may differ materially from those expected by any
forward-looking statements. Factors that could cause actual results to differ
from those expected include, but are not limited to, the following: (1) the
occurrence of any event, change or other circumstances that could give rise to
the termination of, or a material change in the terms of, the Merger
Agreement, (2) the outcome of any legal proceedings that have been or may be
instituted against us and others relating to the Merger Agreement, (3) the
inability to complete the Merger due to the failure to obtain stockholder
approval or the failure to satisfy other conditions to the completion of the
Merger, (4) the failure by us to obtain the expected debt financing
contemplated by the commitment letter received in connection with the Merger,
(5) the failure of the Merger to close for any other reason, (6) the amount of
costs, fees, expenses and other charges related to the Merger, (7) risks that
the proposed Merger disrupts current plans and operations and the potential
difficulties in employee retention as a result of the Merger, (8) the effect
of the announcement of the Merger on our customers, suppliers, partner and
joint venture relationships, operating results and business generally, (9) we
are subject to an ongoing inquiry by the Securities and Exchange Commission
(the "SEC"), and there can be no assurance as to its outcome, or any other
potential consequences thereof for us, and (10) we may incur additional
significant costs and expenses in connection with the SEC inquiry, the class
action lawsuits and derivative actions that were filed in light of the SEC
inquiry, the U.S. Attorney's Office requests for information, or other
litigation, regulatory or investigatory matters related to the SEC inquiry,
the proposed Merger or otherwise. For a fuller description of these and other
possible uncertainties, please refer to our Annual Report on Form 10-K for the
year ended December 31, 2006, as well as to our subsequent filings with the
SEC. Our forward-looking statements contained herein speak only as of the date
hereof, and we make no commitment to update or publicly release any revisions
to forward-looking statements in order to reflect new information or
subsequent events, circumstances or changes in expectations.

    IMPORTANT ADDITIONAL INFORMATION AND WHERE TO FIND IT:

    In connection with the proposed Merger, United Rentals has filed a
definitive proxy statement with the SEC. INVESTORS AND SECURITY HOLDERS ARE
ADVISED TO READ THE PROXY STATEMENT BECAUSE IT CONTAINS IMPORTANT INFORMATION
ABOUT THE MERGER AND THE PARTIES TO THE MERGER. Investors and security holders
may obtain a free copy of the proxy statement and other relevant documents
filed with the SEC from the SEC's website at www.sec.gov. United Rentals
security holders and other interested parties may also obtain, without charge,
a copy of the proxy statement and other relevant documents by directing a
request by mail to the company at Five Greenwich Office Park, Greenwich, CT
06831, or by telephone to (203) 622-3131, or from the United Rentals website
at www.unitedrentals.com.

    United Rentals and its directors and officers may be deemed to be
participants in the solicitation of proxies from United Rentals stockholders
with respect to the Merger. Information about United Rentals directors and
officers and their ownership of United Rentals common stock and other
securities is set forth in the United Rentals proxy statements and Annual
Reports on Form 10-K, previously filed with the SEC, and are also set forth in
the definitive proxy statement relating to the Merger.




For further information:

For further information: Hyde Park Financial Communications Fred
Bratman, 212-683-3931, ext. 217 Cell: 917-847-4507 fbratman@hydeparkfin.com

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UNITED RENTALS, INC.

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