Amerco obtains $150 million revolver backed by trucks

New York, July 6 - Amerco said it has received a commitment from Merrill Lynch Commercial Finance Corp. for a $150 million five-year revolving credit facility backed by rental trucks.

So far the Reno, Nev., parent of truck renter U-Haul International, Inc., Amerco Real Estate Co., Republic Western Insurance Co. and Oxford Life Insurance Co. has not drawn on the facility.

Interest is at Libor plus 175 basis points. There is an unused fee of 37.5 bps and a one-time fee of $2.25 million. Prepayments up to June 28, 2006 are subject to a 2% premium, declining to 1% up to June 28, 2008 and no premium after that.

The loan closed on June 28.

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