Ashtead Group to repay credit facility borrowings via new notes

By Marisa Wong

Los Angeles, Oct. 28 – Ashtead Group plc plans to repay borrowings under its first priority senior secured credit facility using proceeds from an offering of new notes.

Ashtead announced on Monday that wholly owned subsidiary Ashtead Capital, Inc. is conducting a private offering of about $1 billion of second priority senior secured notes due 2028 and 2029.

Proceeds from the Rule 144A and Regulation S offering will also be used to fund a tender offer and related redemption of Ashtead’s outstanding 2024 notes.

Ashtead is an industrial equipment rental company based in London.

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