H&E Equipment talks $250 million 10-year notes at 8¼%-8½%

By Paul A. Harris

St. Louis, July 26 - H&E Equipment Services Inc. talked its $250 million offering of 10-year senior notes (B3/B+) at 8¼% to 8½% on Wednesday, according to an informed source.

The issue is expected to price on Friday.

Credit Suisse and UBS Investment Bank are joint bookrunners for the Rule 144A and Regulation S offering.

The notes come with five years of call protection.

Proceeds, together with cash on hand and borrowings under the company's existing senior secured credit facility, will be used to fund the tender for its 11 1/8% senior secured notes due 2012 and its 12½% senior subordinated notes due 2013.

H&E is a Baton Rouge, La., heavy equipment rental company.

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