AMERCO (NASDAQ:UHAL) Files An 8-K Other Events

ME Staff 8-k
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AMERCO (NASDAQ:UHAL) Files An 8-K Other Events
Item 8.01Other Events

Fixed Rate Secured Notes Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I

On May 3, 2019, the Company and the Trustee entered the Thirty-Sixth Supplemental Indenture to the Base Indenture (the Fixed Rate Secured Notes Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Thirty-Sixth Supplemental Indenture) and a Pledge and Security Agreement (the Fixed Rate Secured Notes Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Security Agreement). In connection with the foregoing, the Company has offered up to $7,790,200 in aggregate principal amount of UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Secured Notes (the Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Notes) in a public offering. Investors in the Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Notes must first join the U-Haul Investors Club. The Company intends to use the proceeds to reimburse its subsidiaries and affiliates for the cost of acquisition and development of the collateral pledged in such offering (the Collateral) and for general corporate purposes.

The Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Notes bear interest at rates between 3.00% and 6.50% per year and mature between two and thirty years from issue date and are fully amortizing over their respective terms. Principal and interest on the Notes will be credited to each holders U-Haul Investors Club account on a quarterly basis in arrears throughout the term. The Fixed Rate Secured Notes Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Thirty-Sixth Supplemental Indenture and the Fixed Rate Secured Notes Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Security Agreement contain covenants requiring the maintenance of a first-priority lien on the Collateral, and a prohibition on additional liens on the Collateral, in each case subject to certain permitted liens. The Notes are not guaranteed by any subsidiary of the Company, and therefore are effectively subordinated to all of the existing and future claims of creditors of each of the Companys subsidiaries.

The Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Notes will be offered and sold to the Companys shelf registration statement on Form S-3 (Registration No. 333-215546) under the Securities Act of 1933, as amended. The Company has filed with the Securities and Exchange Commission a prospectus supplement, dated May 3, 2019, together with the accompanying prospectus, dated January 13, 2017, relating to the offering and sale of the Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Notes.

For a complete description of the terms and conditions of the Fixed Rate Secured Notes Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Thirty-Sixth Supplemental Indenture and the Fixed Rate Secured Notes Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Security Agreement, please refer to the Fixed Rate Secured Notes Series UIC-1I Thirty-Sixth Supplemental Indenture and the Fixed Rate Secured Notes Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Security Agreement, each of which is incorporated herein by reference and attached to this Current Report on Form 8-K as Exhibit 4.1.

A copy of the opinion and consent of Jennifer M. Settles, Secretary of the Company, as to the validity of the Series UIC-2I, 3I, 4I, 5I, 6I, 7I, 8I and 9I Notes is incorporated by reference into the Registration Statement on Form S-3 (File No. 333-215546) and filed as Exhibit 5.1 hereto.

Item 8.01.Financial Statements and Exhibits.

(d)Exhibits.

AMERCO /NV/ Exhibit
EX-4.1 2 ex4136thindenture.htm EX 4.1       AMERCO,…
To view the full exhibit click here

About AMERCO (NASDAQ:UHAL)

AMERCO is a do-it-yourself moving and storage operator through its subsidiary, U-Haul International, Inc. (U-Haul). The Company supplies its products and services to help people move and store their household and commercial goods through U-Haul. It sells U-Haul brand boxes, tape, and other moving and self-storage products and services to do-it-yourself moving and storage customers at its distribution outlets and through uhaul.com and eMove Websites. The Company operates through three segments: Moving and Storage; Property and Casualty Insurance, and Life Insurance. The Moving and Storage segment includes the operations of AMERCO, U-Haul and Amerco Real Estate Company, and the subsidiaries of U-Haul and Real Estate. The Property and Casualty Insurance segment consists of the operations of Repwest Insurance Company and its subsidiaries, and ARCOA Risk Retention Group. The Life Insurance segment consists of the operations of Oxford Life Insurance Company and its subsidiaries.