Ahern Rentals talks $75 million add-on to 9¼% notes due 2013 at 103.75 area

By Paul A. Harris

St. Louis, Jan. 10 - Ahern Rentals talked a $75 million add-on to its 9¼% second-priority senior secured notes due Aug. 15, 2013 (B3/B) at the 103.75 area on Wednesday, according to an informed source.

The books close at noon ET on Thursday.

CIBC World Markets is leading the offering of notes, which are being marketed via Rule 144A with registration rights. Banc of America Securities LLC is the co-manager.

The notes become callable on Aug. 15, 2009 at 104.625 and contain an equity clawback, which remains in place until Aug. 15, 2008 for 35% at 109.25.

Proceeds will be used to reduce bank debt.

Ahern is a Las Vegas-based equipment rental company that operates primarily in the southwestern United States.

The original $175 million issue priced at par on Aug. 11, 2005.

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