23rd Jul 2018 14:27
LONDON (Alliance News) - Ashtead Group PLC said on Monday it is conducting a private notes offering through its subsidiary, Ashtead Capital Inc.
The FTSE 100-listed equipment rental company will offer around USD500 million in second-priority senior secured notes due 2026.
The terms and timing of the offering is dependent on market conditions and other factors, Ashtead said.
Proceeds from the offering will go towards repayment of part of longstanding amounts borrowed under its senior secured credit facility and to pay related fees and expenses.
Ashtead said the new issuance will enable it to fix the cost of a further tranche of its debt and extend its average debt maturity profile.
Shares in Ashtead were up 0.4% at 2,322.00 pence on Monday.
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