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H&E Equipment Service $275 million 10-year notes talked in 11% area, pricing Friday
By Paul A. Harris
St. Louis, Mo., May 30 - Price talk of a yield in the 11% area emerged Thursday on H&E Equipment Service, Inc.'s planned offering of $275 million 10-year senior secured notes (B3/B), according to a syndicate source, who added that the deal will price Friday.
Credit Suisse First Boston and Banc of America Securities are joint bookrunners. Fleet Securities is co-manager.
The Rule 144A notes are non-callable for five years.
Proceeds will be used to repay bank debt and to fund the merger of H&E with ICM by sponsor Bruckman, Rosser, Sherrill.
The issuer is a Medford, N.Y.-based equipment rental company.
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