Sunbelt Rentals closes $1.2B senior notes offering

Sunbelt Rentals Holdings, Inc. (NYSE: SUNB) completed the issuance and sale of $1.2 billion in senior notes on July 14, 2026, according to a company statement.

The offering consists of two tranches: $450 million in 4.950% Senior Notes due 2030 and $750 million in 5.650% Senior Notes due 2036. The 2030 Notes were issued at a price of 99.627% of par, while the 2036 Notes were priced at 99.048%.

Both tranches were issued under an indenture dated July 14, 2026, with BNY Mellon Corporate Trustee Services Limited serving as trustee. The notes were sold in a transaction exempt from registration under the Securities Act of 1933, offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.

Interest on both note series is payable semi-annually on February 12 and August 12 each year, beginning February 12, 2027. The 2030 Notes mature on August 12, 2030, and the 2036 Notes mature on August 12, 2036.

The notes rank equally with the company's existing and future senior debt and are jointly and severally guaranteed by the company's current and future domestic subsidiaries that guarantee its revolving credit facility.

In the event of a change of control triggering event, the company is required to offer to repurchase the notes at 101% of the aggregate principal amount, plus accrued and unpaid interest.

The indenture includes covenants restricting certain sale and leaseback transactions, the creation of liens on assets securing certain indebtedness, and consolidations, mergers, or asset sales.

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