AMERCO has entered into a $150-million amortizing term loan with Merrill Lynch Commercial Finance Corp. to finance new truck purchases.
The credit facility is LIBOR based with a final maturity in 2012. The funds will be drawn to finance new truck purchases between the months of November 2005 through April 2006.
"The company appreciates the continued support of Merrill Lynch as we continue to invest in our truck rental fleet to further strengthen our do-it-yourself-moving and self-storage business," said Joe Shoen, chairman of AMERCO.
AMERCO is the parent company of U-Haul International Inc., Amerco Real Estate Co., Republic Western Insurance Co. and Oxford Life Insurance Co. With a network of more than 15,300 locations in all 50 United States and 10 Canadian provinces, U-Haul is celebrating its 60th year of serving customers. The company has more than 93,000 trucks, 78,750 trailers and 36,100 towing devices.
The credit facility is LIBOR based with a final maturity in 2012. The funds will be drawn to finance new truck purchases between the months of November 2005 through April 2006.
"The company appreciates the continued support of Merrill Lynch as we continue to invest in our truck rental fleet to further strengthen our do-it-yourself-moving and self-storage business," said Joe Shoen, chairman of AMERCO.
AMERCO is the parent company of U-Haul International Inc., Amerco Real Estate Co., Republic Western Insurance Co. and Oxford Life Insurance Co. With a network of more than 15,300 locations in all 50 United States and 10 Canadian provinces, U-Haul is celebrating its 60th year of serving customers. The company has more than 93,000 trucks, 78,750 trailers and 36,100 towing devices.
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