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H&E Equipment Services to use part of IPO proceeds to repay bank debt
By Ted A. Knutson
Washington, Oct. 13 - H&E Equipment Services, Inc. said it plans to use part of the proceeds from an up to $201.25 million initial public offering of common stock to repay a portion of borrowings under its secured credit facility.
As of June 30, the facility had $76.4 million outstanding.
The Baton Rogue, La.-based equipment services company made the announcement in an S-1 registration filing with the Securities and Exchange Commission.
Credit Suisse First Boston and UBS Investment Bank are the co-lead underwriters of the IPO.
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