McGrath RentCorp secures $725M credit facility

McGrath RentCorp has entered into a Third Amended and Restated Credit Agreement, completing a new $725 million five-year revolving credit facility with a syndicate of banks.

Rhea-AI Filing Summary

McGrath RentCorp has entered into a Third Amended and Restated Credit Agreement, completing a new $725 million five-year revolving credit facility with a syndicate of banks. This facility replaces the company’s prior $650 million line of credit and extends maturity to May 8, 2031.

The agreement includes a $40 million sublimit for standby letters of credit and a $20 million sublimit for swingline loans, and allows additional term loans or increased commitments under specified conditions. McGrath plans to use the proceeds for working capital, capital expenditures and other general corporate purposes.

Insights

Capital structure analyst

McGrath refinances and modestly upsizes its core credit facility.

McGrath RentCorp replaced its existing $650 million credit line with a larger $725 million revolving facility maturing on May 8, 2031. The structure includes sublimits for standby letters of credit and swingline loans, keeping flexible liquidity tools in place.

The facility permits additional term loans or increased commitments if conditions are met, giving room to scale borrowing capacity. Proceeds are earmarked for working capital, capital expenditures and general corporate purposes, indicating ongoing support for day-to-day operations and growth projects rather than a one-time transaction.

Future disclosures in company filings may detail any draw levels under the revolver and any use of the option to add term loans or expand commitments, which would clarify how actively this facility supports McGrath’s rental-focused growth strategy.

8-K Event Classification

4 items: 1.01, 2.03, 7.01, 9.01

4 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Revolving credit facility size: $725,000,000 Prior credit facility size: $650,000,000 Standby letters of credit sublimit: $40,000,000 +3 more

6 metrics

Revolving credit facility size $725,000,000 Five-year revolving credit facility under Third Amended and Restated Credit Agreement

Prior credit facility size $650,000,000 Existing credit facility replaced by new $725 million facility

Standby letters of credit sublimit $40,000,000 Sublimit within Senior Credit Facility for standby letters of credit

Swingline loans sublimit $20,000,000 Sublimit within Senior Credit Facility for swingline loans

Facility maturity date May 8, 2031 Maturity of the five-year revolving credit facility

Form type 8-K Current report describing entry into material definitive agreement and financing

Key Terms

Third Amended and Restated Credit Agreement, revolving credit facility, standby letters of credit, swingline loans, +2 more

6 terms

Third Amended and Restated Credit Agreement financial

"entered into a Third Amended and Restated Credit Agreement with (i) Bank of America, N.A."

revolving credit facility financial

"The Revised Credit Agreement provides for (a) a $725,000,000 five-year revolving credit facility"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

standby letters of credit financial

"which includes a $40,000,000 sublimit for the issuance of standby letters of credit"

A standby letter of credit is a bank’s written promise to pay a beneficiary if the customer fails to meet a contractual obligation, acting like a backup insurance policy that kicks in only if the borrower doesn’t pay or perform. Investors care because it reduces payment risk for counterparties and can create a potential obligation for the borrower’s finances, signaling how much external credit support or hidden risk a company has.

swingline loans financial

"and a $20,000,000 sublimit for swingline loans"

A swingline loan is a very short-term, on-demand loan that sits inside a larger credit facility to cover immediate cash needs like payroll, small bills, or last-minute payments. Think of it as an emergency overdraft from a lender: it’s quick to draw, repaid fast, and usually carries faster fees, so investors watch it as a signal of a company’s liquidity pressure and potential cost or covenant stress.

Regulation FD Disclosure regulatory

"Item 7.01 Regulation FD Disclosure On May 11, 2026, the Company issued a press release"

Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.

Emerging growth company regulatory

"Emerging growth company Item 1.01 Entry into a Material Definitive Agreement."

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What new financing did McGrath RentCorp (MGRC) announce in its latest 8-K?

McGrath RentCorp completed a new $725 million five-year revolving credit facility with a bank syndicate. It replaces the prior $650 million line of credit and provides liquidity for working capital, capital expenditures and other general corporate purposes.

When does McGrath RentCorp’s new $725 million credit facility mature?

The new $725 million revolving credit facility for McGrath RentCorp matures on May 8, 2031. This extends the company’s main bank financing and provides longer-term visibility for funding its rental operations and capital investment needs across its business segments.

How does McGrath RentCorp’s new credit facility compare to the previous one?

The new facility is a $725 million revolving credit line, up from the prior $650 million credit facility. It keeps a similar structure while increasing capacity and extending maturity, supporting McGrath RentCorp’s liquidity for operations and planned capital expenditures.

What are the key features of McGrath RentCorp’s revised credit agreement?

Key features include a $725 million revolving credit facility, a $40 million standby letter of credit sublimit, and a $20 million swingline loan sublimit. The agreement also allows additional term loans or increased commitments if specified conditions are satisfied in the future.

How will McGrath RentCorp use the proceeds from its new $725 million facility?

McGrath RentCorp plans to use proceeds from the $725 million facility for working capital, capital expenditures and other general corporate purposes. This supports its ongoing rental operations, growth investments and general financing needs rather than a single acquisition or project.

Which banks are leading McGrath RentCorp’s new $725 million credit facility?

Bank of America, N.A. serves as Administrative Agent, Swingline Lender and L/C Issuer, and as Joint Lead Arranger and Sole Bookrunner. U.S. Bank N.A. and Wells Fargo Bank, N.A. act as Joint Lead Arrangers and Co-Syndication Agents in the new credit facility.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/11/2026 - 04:00 PM EDT Learn about SEC filing dates

0000752714false00007527142026-05-082026-05-08

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 08, 2026

McGRATH RENTCORP

(Exact name of Registrant as Specified in Its Charter)

California			000-13292	94-2579843
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
5700 Las Positas Road
Livermore, California				94551-7800
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (925) 606-9200

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		MGRC		Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On May 8, 2026, McGrath RentCorp, a California corporation (the “Company”), entered into a Third Amended and Restated Credit Agreement with (i) Bank of America, N.A., serving as Administrative Agent, Swingline Lender and L/C Issuer, (ii) BofA Securities, Inc., serving as Joint Lead Arranger and Sole Bookrunner, (iii) U.S. Bank N.A. and Wells Fargo Bank, N.A. both serving as Joint Lead Arrangers and Co-Syndication Agents, and (iv) a syndicate of other lenders (the “Revised Credit Agreement”).

The Revised Credit Agreement extends the term of the revolving credit facility through May 8, 2031, and refinances the Company’s existing $650 million credit facility. The Revised Credit Agreement provides for (a) a $725,000,000 five-year revolving credit facility (the “Senior Credit Facility”) which includes a $40,000,000 sublimit for the issuance of standby letters of credit and a $20,000,000 sublimit for swingline loans, and (b) subject to the satisfaction of specified conditions, the ability for the Company from time to time after the closing of the transaction to add one or more tranches of term loans and/or increase the aggregate commitments under the Senior Credit Facility.

The proceeds of the Senior Credit Facility will be used for working capital, capital expenditure and other general corporate purposes.

The foregoing summary of the Revised Credit Agreement is not complete and is qualified in its entirety by the full text of the Revised Credit Agreement, a copy of which is filed as Exhibit 10.1 hereto and is incorporated herein by reference in its entirety.

Item 2.03 - Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

To the extent required by Item 2.03 of Form 8-K, the information contained in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.

Item 7.01 Regulation FD Disclosure

On May 11, 2026, the Company issued a press release regarding the Revised Credit Agreement. The full text of the press release is furnished as Exhibit 99.1. The information under this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), as amended, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
2.1	Third Amended and Restated Credit Agreement, dated May 8, 2026, by and among McGrath RentCorp, Bank of America, N.A., U.S. Bank N.A., Wells Fargo Bank, N.A. and other lenders set forth therein.
99.1	Press Release of McGrath RentCorp, dated May 11, 2026.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			McGRATH RENTCORP
Date:	May 11, 2026	By:	/s/ Keith E. Pratt
			Keith E. Pratt Executive Vice President and Chief Financial Officer

Exhibit 99.1

Contact

Keith E. Pratt

EVP & Chief Financial Officer

925-606-9200

PRESS RELEASE

FOR RELEASE May 11, 2026

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.A. served as Joint Lead Arrangers and Co-Syndication Agents.

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.

ABOUT MCGRATH:

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 experience, McGrath’s success is driven by a focus on exceptional customer experiences. This focus has underpinned the Company’s long-term financial success and supported 35 consecutive years of annual dividend increases to shareholders, a rare distinction among publicly listed companies.

McGrath is headquartered in Livermore, California. Additional information about McGrath and its businesses is available at mgrc.com and investors.mgrc.com.

Filing Exhibits & Attachments

3 documents

Press Releases

• EX-99.1 EX-99.1 9.4 KB

Other Documents

• EX-2.1 EX-2.1 1.4 MB
• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 23.3 KB