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EquipmentShare.com to price $300 million tap of 9% second-lien notes in Monday drive-by
By Paul A. Harris
Portland, Ore., Sept. 18 – EquipmentShare.com Inc. plans to price a $300 million add-on to its 9% senior secured second-lien notes due May 15, 2028 (B3/B-) in a Monday drive-by, according to an informed source.
Initial price talk is in the low-to-mid 97 area.
The Rule 144A and Regulation S for life notes become callable on May 15, 2025 at 106.75.
Joint bookrunner Mizuho Securities USA Inc. will bill and deliver. Citigroup Global Markets Inc. is also a joint bookrunner.
The Columbia, Mo.-based provider of construction equipment and technologies plans to use the proceeds to partially repay its ABL facility, including amounts under the revolver and the first-in/last-out term loan, and for general corporate purposes.
The original $640 million issue priced in May 2023.
The Rule 144A notes will immediately become fungible with the original notes.
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