United Rentals bank debt has been creeping up to the 99 range since the company announced that it was pursuing an additional $210 million in 103 4% senior notes it recently issued. Traders said the bank debt traded in the 99-99 1/2 context last week. The paper was priced in the 97 5/8 98 5/8 range prior to the announcement of the bond issue on Dec. 10, according to LoanX. Roughly $100 million of the proceeds from the high-yield add-on will pay down a portion of the company's term loan, and the remaining amount is to be used for a repayment of the outstanding amount of the company's revolver. Calls to John Milne, cfo, were not returned by press time.