Mobile Mini to draw from revolver to redeem $150 million 6 7/8% notes

By Toni Weeks

San Diego, July 3 - Mobile Mini, Inc. will draw from its $900 million asset-based revolver to fund the planned redemption of its $150 million of 6 7/8% senior notes due May 2015 on Aug. 2, according to a press release.

The revolver currently bears interest at Libor plus 225 basis points.

"Following the bond redemption, we will continue to have a great deal of financial flexibility with approximately $400 million currently available under our ABL, which matures in February 2017," executive vice president and chief financial officer Mark Funk said in the release.

Tempe, Ariz.-based Mobile Mini is a provider of portable storage solutions.

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