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Mobile Mini secures $1B asset-based revolving credit facility

Mobile Mini Inc. entered into a $1.0 billion, five-year asset-based revolving credit facility due in March 2024, which replaces its existing credit facility that matures in December 2020.

The applicable interest rate margin under the new facility is between 1.25% and 1.75% for London inter-bank offered rate loans. The annual unused line fee on unutilized commitments will be reduced to 0.225% from 0.25%.

The borrowings are secured by a blanket lien on substantially all of Mobile Mini's rental fleet and other assets.