Mobile Mini to redeem $150 million 6 7/8% senior notes due 2015 Aug. 2

By Toni Weeks

San Diego, July 3 - Mobile Mini, Inc. will fully redeem its $150 million of 6 7/8% senior notes due May 2015 on Aug. 2, according to a press release.

The notes will be redeemed at 101.719 plus accrued interest up to but excluding the redemption date.

"Based upon our current ABL borrowing rate and total debt level, we estimate approximately $6.6 million in annualized interest savings, excluding the redemption premium of approximately $2.6 million, as a result of calling these senior notes," executive vice president and chief financial officer Mark Funk said in the release.

Tempe, Ariz.-based Mobile Mini is a provider of portable storage solutions.

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