Williams Scotsman starts roadshow for $100 million add-on Monday

By Paul A. Harris

St. Louis, Mo., Feb. 7 - Williams Scotsman, Inc. is set to roadshow a $100 million add-on to its 9 7/8% senior notes due June 1, 2007 (existing ratings B3/B-) Monday through Wednesday, a syndicate source told Prospect News.

Pricing is expected to take place Thursday, Feb. 14.

Deutsche Banc Alex. Brown is bookrunner for the Rule 144A deal and Bear Stearns & Co. is co-manager, according to the source.

The notes are callable on June 1, 2002 at 104.938, in 2003 at 102.469, and at par on June 1, 2004 and thereafter.

Williams Scotsman originally sold $400 million of its 9 7/8% notes in May 1997, according to the source who added that proceeds from the add-on will be used to repay bank debt.

The mobile office and storage space company is based in Baltimore, Md.

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