H&E accepts $329.7 million tendered 7% notes, calls remainder at 103.5

By Marisa Wong

Morgantown, W.Va., Aug. 24 – H&E Equipment Services, Inc. said that holders tendered $329.7 million, or 52.3%, of its $630 million 7% senior notes due 2022 as of 5 p.m. ET on Aug. 23, the expiration of its previously announced cash tender offer.

The $329.7 million excludes $13.8 million of notes subject to guaranteed delivery procedures, according to a Thursday press release.

The purchase price is $1,038.90 per $1,000 principal amount of notes plus accrued interest up to but excluding the payment date of Aug. 24.

H&E Equipment began the tender offer on Aug. 17 in connection with its $750 million offering of new senior notes, which closed on Thursday. The company used funds from the new notes to pay the purchase price for the tendered notes.

The company said it has issued a redemption notice for all remaining 7% notes not tendered in the offer. The outstanding notes will be redeemed at 103.5 plus accrued interest to the redemption date of Sept. 25.

Wells Fargo Securities, LLC (866 309-6316 or 704 410-4760) is the dealer manager for the tender offer. D.F. King & Co., Inc. (888 796-1292, 212 269-5550 or dfking.com/hees) is the tender agent and information agent.

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

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