Business
McGrath Announces Completion of $725 Million Financing
LIVERMORE, Calif, May 11, 2026--McGrath RentCorp ("McGrath" or the "Company") (Nasdaq: MGRC), a leading business-to-business rental company in North America, today announced that it has completed a $725 million credit facility with a syndicate of banks. The five-year facility matures on May 8, 2031, and replaces the Company’s existing $650 million line of credit. Bank of America, N.A. served as Joint Lead Arranger, Sole Bookrunner and Administrative Agent. U.S. Bank N.A. and Wells Fargo Bank, N.
About this update from Mcgrath Rentcorp
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":250,"url":"https://media.zenfs.com/en/business-wire.com/a015fa126dbb4889425f2ffa8e211fb0"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/s7S.Q6mePaBGEbvEkbK__A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUwMA--/https://media.zenfs.com/en/business-wire.com/a015fa126dbb4889425f2ffa8e211fb0","width":480,"height":250},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/SWaID7c1lLLEYKU8jiT8bA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTMzMw--/https://media.zenfs.com/en/business-wire.com/a015fa126dbb4889425f2ffa8e211fb0","width":480,"height":250}},"lazy":false},{"type":"text","content":"LIVERMORE, Calif, May 11, 2026--(BUSINESS WIRE)--McGrath RentCorp ("McGrath" or the "Company") (Nasdaq: MGRC), a leading business-to-business rental company in North America, today announced that it has completed a $725 million credit facility with a syndicate of banks. The five-year facility matures on May 8, 2031, and replaces the Company’s existing $650 million line of credit. Bank of America, N.A. served as Joint Lead Arranger, Sole Bookrunner and Administrative Agent. U.S. Bank N.A. and Wells Fargo Bank, N.A. served as Joint Lead Arrangers and Co-Syndication Agents.","length":597,"tagName":"p"},{"type":"text","content":"The proceeds of the facility will be used for working capital, capital expenditures and other general corporate purposes. Additional information regarding the new credit facility is available in the Company’s current report on Form 8-K, filed with the SEC on May 11, 2026.","length":272,"tagName":"p"},{"type":"text","content":"ABOUT MCGRATH:","length":14,"tagName":"p"},{"type":"text","content":"McGrath RentCorp (Nasdaq: MGRC) is a leading business-to-business rental company in North America with a strong record of profitable business growth. Founded in 1979, McGrath’s operations are centered on modular solutions through its Mobile Modular and Mobile Modular Portable Storage businesses. In addition, its TRS-RenTelco business offers electronic test equipment rental solutions. The Company’s rental product offerings and services are part of the circular supply economy, helping customers work more efficiently, and sustainably manage their environmental footprint. With over 45 years of ...