H&E Equipment begins tender offer on $950 million of 5 5/8% notes

By Taylor Fox

New York, Nov. 30 – H&E Equipment Services, Inc. has begun a cash tender offer for any and all of its $950 million of 5 5/8% senior notes due 2025 (Cusips: 404030AH1, 404030AF5), according to a news release.

Holders who validly tender their notes prior to the 5 p.m. ET Dec. 11 expiration time will receive $1,043.75 per $1,000 principal amount of notes, plus any accrued and unpaid interest on the notes up to, but not including, the payment date.

The payment date for the tendered notes is expected to be Dec. 14.

The offer is being conducted in connection with the company’s proposed offering of $1.25 billion of new senior notes. The company expects to fund the tender offer using a portion of the proceeds from the new notes.

The tender offer is subject to a number of conditions including, without limitation, the company having received proceeds from the proposed notes offering in an amount sufficient to pay the offer consideration for all tendered notes.

The company also issued a conditional notice of redemption for any notes not purchased in the offer. The notes would be redeemed on Dec. 30 at 104.2188, plus accrued and unpaid interest to but excluding the redemption date, subject to the completion of the proposed notes offering on or prior to the redemption date.

BofA Securities, Inc. (980 387-9534; debt_advisory@bofa.com) is the dealer manager, and D.F. King & Co., Inc. (800 284-7175, 212 269-5550, hees@dfking.com) is the tender agent and information agent.

H&E is a Baton Rouge, La.-based heavy equipment manufacturing and services company.

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