New Issue: Mobile Mini prices $200 million 10-year notes at par to yield 7 7/8%

By Paul A. Harris

St. Louis, Nov. 10 - Mobile Mini, Inc. priced a $200 million issue of 10-year senior notes (B2/B+/) at par to yield 7 7/8% on Wednesday, according to an informed source.

The yield printed at the wide end of the 7¾% area price talk.

Deutsche Bank Securities Inc. was the left bookrunner. Bank of America Merrill Lynch was the joint bookrunner.

Joint lead managers were J.P. Morgan Securities LLC and Wells Fargo Securities.

The Tempe, Ariz.-based portable storage company will use the proceeds to refinance its 9¾% senior notes due 2014.

Issuer:	Mobile Mini, Inc.
Amount:	$200 million
Maturity:	Dec. 1, 2020
Securities:	Senior notes
Left bookrunner:	Deutsche Bank Securities Inc.
Joint bookrunner:	Bank of America Merrill Lynch
Joint lead managers:	J.P. Morgan Securities LLC, Wells Fargo Securities
Co-manager:	Oppenheimer & Co.
Coupon:	7 7/8%
Price:	Par
Yield:	7 7/8%
Spread:	524 bps
Call features:	Make-whole call at Treasuries plus 50 bps until Dec. 1, 2015, then callable at 103.938, 102.625, 101.313, par on and after Dec. 1, 2018
Equity clawback:	35% at 107.875 until Dec. 1, 2013
Change-of-control put:	101%
Trade date:	Nov. 10
Settlement date:	Nov. 23
Ratings:	Moody's: B2
	Standard & Poor's: B+
Distribution:	Rule 144A with registration rights and Regulation S
Price talk:	7¾% area
Marketing:	Brief roadshow

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