EquipmentShare to sell $500 million eight-year second-lien notes on Friday; initial talk 8¾%-9%

By Paul A. Harris

Portland, Ore., April 11 – EquipmentShare.com, Inc. plans to price a $500 million offering of senior secured second-lien notes due 2032 (B3/B-) on Friday, according to a syndicate source.

The deal, which was set to officially kick off on a late Thursday morning conference call with investors, is in the market with initial talk of 8¾% to 9%.

The Rule 144A and Regulation S for life eight-year notes become subject to an initial call after three years at par plus 50% of the coupon.

Wells Fargo Securities LLC is the left bookrunner. Citigroup Global Markets Inc., Fifth Third Securities Inc., SMBC Nikko Securities America Inc., Capital One Securities Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc., Truist Securities Inc., BofA Securities Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA Inc. and Regions Securities LLC are the joint bookrunners. U.S. Bancorp Investments Inc. is the co-manager.

The Columbia, Mo.-based equipment rental company plans to use the proceeds to repay a portion of its ABL revolving credit facility and add cash to its balance sheet.

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