Loxam to host investor call for €600 million secured notes due 2029

Chicago, Dec. 4 – Loxam SAS will be hosting investor calls on Tuesday for a new €600 million offering of senior secured notes with a 5.5-year tenor (BB-), according to information from a market source and a press release.

The notes will come with two years of call protection and then will be redeemable at par plus 50% of the coupon in year three, par plus 25% of the coupon in year four and then simply par going forward.

Deutsche Bank is the global coordinator and physical bookrunner on the Rule 144A and Regulation S deal.

Bank of America, BNP Paribas, Credit Agricole CIB, JPMorgan and Natixis are joint bookrunners.

After the investor call on Tuesday morning, the company will be available for one-on-one calls through Wednesday. Pricing is expected thereafter.

Proceeds will be used to refinance the company’s 3¼% senior secured notes due 2025.

The prospective issuer is a Paris-based rental equipment company operating in Europe.

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