U-Haul 2006 Annual Report Download - page 62

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AMERCO AND CONSOLIDATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
Note 22: Subsequent Events
Preferred Stock Dividends
On May 3, 2006, the Board of Directors of AMERCO, the holding Company for U-Haul International, Inc., and other
companies, declared a regular quarterly cash dividend of $0.53125 per share on the Company’ s Series A, 8 1/2 percent
Preferred Stock. The dividend was paid June 1, 2006 to holders of record on May 15, 2006.
New Financings
On June 7, 2006, U-Haul International, Inc. and certain subsidiaries entered into a $150.0 million term loan facility with
BTMU Capital Corporation that is expected to be drawn down over the next several months to fund the acquisition of new
rental trucks. The credit facility is secured by a portion of the Company’ s new truck rental fleet. The above discussion is
merely a description of select terms of the agreements and is qualified in its entirety by reference to our agreements with
BTMU Capital Corporation filed as Exhibits 10.85, 10.86 and 10.87 hereto.
On June 7, 2006, U-Haul International, Inc. and certain subsidiaries entered into a $50.0 million term loan facility with
Bayerische Hypo-und Vereinsbank that is expected to be drawn down over the next several months to fund the acquisition
of new rental trucks. The credit facility is secured by a portion of the Company’ s new truck rental fleet. The above
discussion is merely a description of select terms of the agreements and is qualified in its entirety by reference to our
agreements with Bayerische Hypo-und Vereinsbank filed as Exhibits 10.91 and 10.92 hereto.
The existing Merrill Lynch Rental Truck Amortizing Loan and Revolving Credit Agreement were amended to clarify
their security interests in only those trucks serving as collateral for those loans. The above discussion is merely a
description of select terms of the amendments and is qualified in its entirety by reference to such amendments with Merrill
Lynch Commercial Finance Corporation filed as Exhibits 10.88 and 10.89 hereto.
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