McGrath RentCorp (NASDAQ: MGRC) completed a $725 million credit facility with a syndicate of banks, the company announced. The five-year facility matures on May 8, 2031, and replaces the company's existing $650 million line of credit.

Bank of America served as Joint Lead Arranger, Sole Bookrunner and Administrative Agent for the transaction. U.S. Bank and Wells Fargo Bank served as Joint Lead Arrangers and Co-Syndication Agents.

The Livermore, California-based business-to-business rental company said it will use proceeds from the facility for working capital, capital expenditures and other general corporate purposes. McGrath filed additional information regarding the credit facility in a Form 8-K with the Securities and Exchange Commission on May 11, 2026.

McGrath operates modular solutions through its Mobile Modular and Mobile Modular Portable Storage businesses, and offers electronic test equipment rental through its TRS-RenTelco business. The company was founded in 1979 and has increased its annual dividend for 35 consecutive years.