H&E Equipment Services to sell $200 million tap of 5 5/8% senior notes due 2025 on Monday

By Paul A. Harris

Portland, Ore., Nov. 20 – H&E Equipment Services, Inc. plans to price a $200 million add-on to its 5 5/8% senior notes due Sept. 1, 2025 in a quick-to-market Monday trade, according to a market source.

BofA Merrill Lynch and Wells Fargo Securities LLC are the joint bookrunners.

The notes become callable on Sept. 1, 2020 at 104.219 and feature a 40% equity clawback at 105.625 until Sept. 1, 2020.

The Baton Rouge, La.-based heavy equipment manufacturing and services company plans to use the proceeds to repay debt under its ABL credit facility, to fund potential acquisitions in connection with its strategy of acquiring rental companies to complement its existing business and footprint and for general corporate purposes.

The original $750 million issue priced at par on Aug. 17, 2017.

The add-on notes will become fungible with the original notes.

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