Mobile Storage talks $160 million eight-year notes at 9¾%-10%

By Paul A. Harris

St. Louis, July 19 - Mobile Services U.S./Mobile Storage Group Inc. talked its $160 million offering of eight-year senior notes (B3/B-) at 9¾% to 10% on Wednesday, according to a market source.

The notes are expected to price on Thursday afternoon.

Lehman Brothers is the bookrunner for the offering of Rule 144A notes. Goldman Sachs and Wachovia Securities are co-managers.

The notes will be callable with a make-whole call for the first four years and will then become callable at a premium. The notes will also feature a three-year 35% equity clawback.

Proceeds will be used to fund the LBO of the Burbank, Calif., storage units company by Welsh, Carson, Anderson & Stowe.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.