Ahern Rentals talks $415 million five-year notes to yield in 9½% area; pricing Friday

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., May 31 - Ahern Rentals Inc. has set price talk for its proposed $415 million five-year second priority senior secured notes (Caa1//) in the 9½% area, according to a market source.

Books close at noon ET on Friday, and pricing is expected shortly thereafter.

Jefferies & Co. is the bookrunner for the Rule 144A and Regulation S for life deal.

The notes will be callable in two years at par plus 75% of the coupon.

Proceeds will be used to refinance debt.

Ahern is an equipment rental company based in Las Vegas.

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