Ashtead to partially repay credit facility borrowings via new notes

By Sarah Lizee

Olympia, Wash., July 23 – Ashtead Group plc intends to repay a portion of the outstanding amounts borrowed under its first priority senior secured credit facility using proceeds from a new offering, according to a company announcement.

Wholly owned subsidiary Ashtead Capital, Inc. is conducting a private offering of about $500 million of second priority senior secured notes due 2026.

Proceeds from the offering will also be used to pay related fees and expenses.

Ashtead is a Leatherhead, England-based equipment rental company.

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