4th Nov 2019 18:03
(Alliance News) - Ashtead Group PLC on Monday said it has closed notes offering by its subsidiary Ashtead Capital Inc.
The FTSE 100-listed equipment rental firm said the offering comprises of USD600 million aggregate principal amount of 4.00% second priority senior secured notes due 2028 and USD600 million aggregate principal amount of 4.25% second priority senior secured notes due 2029.
The notes were offered in the US only to qualified institutional buyers, Ashtead noted. The company said the proceeds will go towards funding its cash tender offer for Ashtead Capital's USD500 million outstanding 5.625% notes due 2024, and repay part of the outstanding amount borrowed under its first priority senior secured credit facility.
Shares in Ashtead - which is headquartered in London, UK - closed up 0.5% at 2,391.00 pence each on Monday.
By Evelina Grecenko; [email protected]
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