Mobile Mini guides $250 million eight-year notes to yield in 6% area; investor call Wednesday

By Paul A. Harris

Portland, Ore., May 4 – Mobile Mini, Inc. is guiding a $250 million offering of eight-year senior notes with initial talk in the 6% area, according to market sources.

The deal comes to market on a significant amount of reverse inquiry, and its size is not expected to grow, sources add.

A mid-morning investor call was scheduled to take place on Wednesday, and the Rule 144A and Regulation S offering is expected to price Wednesday afternoon or Thursday morning.

Deutsche Bank Securities Inc. is the left bookrunner. BofA Merrill Lynch, J.P. Morgan Securities LLC, Barclays and BNP Paribas are the joint bookrunners.

The notes come with three years of call protection.

The Phoenix-based portable storage company plans to use the proceeds to redeem in full its existing 7 7/8% senior notes due 2020 and pay down its asset-based revolver.

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