GE Capital served as sole lender for an $85 million ABS term loan to U-Haul. The loan will be used to refinance an existing securitization facility.
U-Haul dealers have the largest consumer rental fleet in the world, with over 101,000 trucks, 76,000 trailers and 34,000 towing devices.
“With the recent uncertainty in the credit markets, we value and are very appreciative of GE’s responsiveness in developing an excellent financing solution which met all of our financing needs,” said Gary Horton, corporate treasurer of U-Haul.
Funding was provided through GE Capital Corporate Finance's bank affiliate, GE Capital Financial.