U-Haul Takes $150 Mln. Loan to Buy New Trucks

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merco, the parent of U-Haul International, said Friday it has taken a $150 million loan from Merrill Lynch Commercial Finance Corp. to finance new truck purchases.

The funds will be drawn to finance new truck purchases starting this month through April of next year.

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, Amerco’s chairman.

The company did not specify what kind of trucks it would purchase. It said U-Haul has the largest consumer truck rental fleet in the world, with more than 93,000 trucks, 78,750 trailers and 36,100 towing devices.

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