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United Rentals (NYSE: URI) extends A/R securitization facility to 2027

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

United Rentals, Inc. and its affiliate United Rentals (North America), Inc. entered into Amendment No. 18 to their Third Amended and Restated Receivables Purchase Agreement, extending their accounts receivable securitization facility. The amended facility now expires on June 18, 2027, with potential 364-day extensions by mutual agreement.

The structure of the facility is unchanged: advances are permitted only when eligible receivables in the collateral pool exceed outstanding loans by a specified amount, and those receivables remain the lenders’ sole source of repayment. The company also confirmed its existing performance undertaking related to this securitization structure.

Positive

  • None.

Negative

  • None.
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 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Facility expiration June 18, 2027 Expiration date of Amended A/R Facility after Amendment No. 18
Original securitization undertaking May 2005 Date of original performance undertaking for securitization facility
Restated securitization September 2012 Performance undertaking amended and restated with facility restatement
Receivables facility inception September 24, 2012 Date of Third Amended and Restated Receivables Purchase Agreement
Receivables Purchase Agreement financial
"with respect to the Third Amended and Restated Receivables Purchase Agreement, dated as of September 24, 2012"
A receivables purchase agreement is a contract where a company sells its outstanding invoices or amounts owed by customers to a buyer in exchange for immediate cash, usually at a discount. Investors care because it improves a company’s short‑term cash flow and can change reported assets, liabilities and risk exposure—like selling IOUs to get money now instead of waiting, which affects liquidity and the firm’s financial picture.
Amended A/R Facility financial
"the expiration date of the facility (as amended, the “Amended A/R Facility”) was extended until June 18, 2027"
performance undertaking financial
"the Company confirmed its performance undertaking originally given in May 2005"
change of control financial
"subject to standard termination events including, without limitation, a change of control of the Company or URNA"
A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.
financial ratio covenant financial
"or breach of the financial ratio covenant under URNA’s credit facility"

FAQ

What did United Rentals (URI) announce in this Form 8-K?
United Rentals reported Amendment No. 18 to its Third Amended and Restated Receivables Purchase Agreement. The change extends its accounts receivable securitization facility while keeping its core structure, collateralization by receivables, and key covenant framework in place.

How long is United Rentals’ amended A/R facility now in place?
The amended accounts receivable facility now runs until June 18, 2027. It may also be further extended on a 364-day basis if United Rentals and the purchasers under the facility mutually agree to continue the arrangement beyond that date.

How does the United Rentals Amended A/R Facility operate?
Advances under the Amended A/R Facility are allowed only when the face amount of eligible receivables exceeds outstanding loans by a specified amount. The receivables in the collateral pool remain the lenders’ only source of repayment under this structure.

What happens if the Amended A/R Facility is terminated early?
If the facility terminates early, no new amounts can be advanced. Collections from receivables securing the facility must then be applied to repay outstanding advances, effectively winding down the securitization using incoming customer payments.

What events could trigger termination of United Rentals’ Amended A/R Facility?
The facility can be terminated for standard events, including a change of control of United Rentals or URNA, failure to make payments, breaches of delinquency, dilution or days sales outstanding covenants, or a breach of the financial ratio covenant under URNA’s credit facility.

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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): June 18, 2026

 

UNITED RENTALS, INC.

UNITED RENTALS (NORTH AMERICA), INC.

(Exact name of registrant as specified in its charter)

 

Delaware   001-14387   06-1522496
         
Delaware   001-13663   86-0933835
(State or other Jurisdiction of
Incorporation)		   (Commission File Number)   (IRS Employer Identification No.)

 

100 First Stamford Place, Suite 700    
Stamford, Connecticut   06902
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (203) 622-3131

 

(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, $.01 par value, of United Rentals, Inc.   URI   New York Stock Exchange

 

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. ¨

 

 
Co-Registrant CIK 0001047166
Co-Registrant Amendment Flag false
Co-Registrant Form Type 8-K
Co-Registrant DocumentPeriodEndDate 2026-06-18
Co-Registrant Written Communications false
Co-Registrant Solicitating Materials false
Co-Registrant PreCommencement Tender Offer false
Co-Registrant PreCommencement Issuer Tender Offer false
Emerging growth company false

 

 

 

 

Item 1.01.  Entry into a Material Definitive Agreement.

 

On June 18, 2026, United Rentals, Inc. (the “Company”), United Rentals (North America), Inc. (“URNA”) and United Rentals Receivables LLC II (the “SPV”) entered into the Amendment No. 18 to Third Amended and Restated Receivables Purchase Agreement (the “Amendment”), by and among URNA, as Originator, the SPV, as Seller, the Company, as Collection Agent, Liberty Street Funding LLC, as a Purchaser (“Liberty”), Gotham Funding Corporation, as a Purchaser (“Gotham”), GTA Funding LLC, as a Purchaser (“GTA”), Reliant Trust, as a Purchaser (“Reliant”, and together with Liberty, Gotham and GTA, the “Purchasers”), The Bank of Nova Scotia, as a Bank, as Administrative Agent and as the Purchaser Agent for Liberty (“Scotia Capital” and the “Administrative Agent”), PNC Bank, National Association, as a Bank and as the Purchaser Agent for itself (“PNC”), Truist Bank (successor by merger to SunTrust Bank), as a Bank and as the Purchaser Agent for itself (“Truist”), MUFG Bank, Ltd., as a Bank and as the Purchaser Agent for Gotham (“MUFG”), The Toronto-Dominion Bank, as a Bank and as the Purchaser Agent for GTA and Reliant (“TD”) and Regions Banks, as a Bank and as the Purchaser Agent for itself (“Regions”, and together with Scotia Capital, PNC, Truist, MUFG and TD, the “Banks” and the “Purchaser Agents”), with respect to the Third Amended and Restated Receivables Purchase Agreement, dated as of September 24, 2012 (as amended by various amendments between 2013 and 2025 and the Amendment, the “Receivables Purchase Agreement”). All capitalized terms not defined herein shall have the meanings assigned to them in the Amendment or the Receivables Purchase Agreement, as applicable.

 

Pursuant to the Amendment, the expiration date of the facility (as amended, the “Amended A/R Facility”) was extended until June 18, 2027 and may be further extended on a 364-day basis by mutual agreement of the Company and the purchasers under the Amended A/R Facility. Advances under the Amended A/R Facility will continue to be reflected as debt on our condensed consolidated balance sheets and receivables in the collateral pool will be reflected as assets on our consolidated balance sheets.

 

Pursuant to the terms of the Amended A/R Facility, advances will continue to be permitted only to the extent that the face amount of the eligible receivables in the collateral pool exceeds the outstanding loans by a specified amount. The Amended A/R Facility will also continue to be structured so that the receivables in the collateral pool are the lenders’ only source of repayment. Upon early termination of the Amended A/R Facility, no new amounts will be advanced under the Amended A/R Facility and collections on the receivables securing the Amended A/R Facility will be used to repay the outstanding advances. The Amended A/R Facility is subject to standard termination events including, without limitation, a change of control of the Company or URNA, a failure to make payments, a failure to comply with standard default, delinquency, dilution and days sales outstanding covenants, or breach of the financial ratio covenant under URNA’s credit facility.

 

The foregoing summary is qualified in its entirety by reference to the full text of the Amendment, as well as the Receivables Purchase Agreement, as amended. In connection with the Amendment, the Company confirmed its performance undertaking originally given in May 2005 in connection with the initial establishment of the securitization facility, as amended and restated in September 2012 in connection with an amendment and restatement of the securitization facility.

 

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

 

The information set forth in the first paragraph of Item 1.01 of this Report is incorporated by reference under this Item.

 

 

 

 

Item 9.01.  Financial Statements and Exhibits.

 

(d) Exhibits

 

10.1 Amendment No. 18 to Third Amended and Restated Receivables Purchase Agreement, dated as of June 18, 2026, by and among United Rentals (North America), Inc., United Rentals Receivables LLC II, United Rentals, Inc., Liberty Street Funding LLC, Gotham Funding Corporation, GTA Funding LLC, Reliant Trust, The Bank of Nova Scotia, PNC Bank, National Association, Truist Bank, National Association, MUFG Bank, Ltd., The Toronto-Dominion Bank and Regions Bank.

 

104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

 

 

 

 

SIGNATURES

 

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

 

Date: June 18, 2026

 

  UNITED RENTALS, INC.
   
  By: /s/ Joli L. Gross
    Name: Joli L. Gross
    Title: Senior Vice President, Chief Legal and Sustainability Officer and Corporate Secretary
   
  UNITED RENTALS (NORTH AMERICA), INC.
   
  By: /s/ Joli L. Gross
    Name: Joli L. Gross
    Title: Senior Vice President, Chief Legal and Sustainability Officer and Corporate Secretary  

 

 

Source: View Original Filing on SEC EDGAR

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