H&E Equipment $825 million bridge loan in syndication; commitments due Aug. 3

By Paul A. Harris

Portland, Ore., July 26 – An H&E Equipment Services, Inc. $825 million bridge loan backing the acquisition of Neff Corp. is in syndication, according to a buyside source.

Commitments are due Aug. 3.

The bridge is expected to be taken out with Rule 144A notes.

Wells Fargo Securities LLC is the bookrunner for the bridge loan.

H&E Equipment, a Baton Rouge, La.-based heavy equipment manufacturing and services company, is acquiring Neff for $1.2 billion.

In addition to the bridge, financing for the acquisition includes availability under a new $1.25 billion senior secured asset-based revolving credit facility and up to $250 million of common stock in a public offering or private placement.

Neff is a Doral, Fla.-based tool and construction equipment rental services provider.

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