Ahern Rentals to sell $75 million add-on to 9¼% notes due 2013 on Thursday

By Paul A. Harris

St. Louis, Jan. 9 - Ahern Rentals plans to price a $75 million add-on to its 9¼% second-priority senior secured notes due Aug. 15, 2013 (B3/B-) on Thursday, according to an informed source.

Marketing activities Tuesday through Wednesday will include meetings and a conference call, the source added.

CIBC World Markets has the books for the notes, which are being offering via Rule 144A with registration rights. Banc of America Securities LLC is the co-manager.

The notes become callable on Aug. 15, 2009 at 104.625 and contain an equity clawback, which remains in place until Aug. 15, 2008 for 35% at 109.25.

Proceeds will be used to reduce bank debt.

Ahern is a Las Vegas-based equipment rental company that operates primarily in the southwestern United States.

The original $175 million issue priced at par on Aug. 11, 2005.

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