Ahern Rentals begins consent solicitation for 9¼% notes due 2013

By Angela McDaniels

Tacoma, Wash., Dec. 7 - Ahern Rentals, Inc. is seeking consents from the holders of its 9¼% second-priority senior secured notes due 2013 to amend the note indenture, according to a company news release.

The company wants to modify the indenture and the intercreditor agreement among the company, trustee Wells Fargo Bank, NA and Wachovia Bank, NA as the collateral agent and control agent to increase the permitted priority lien cap in connection with a new term loan facility, which is expected to be effected through an amendment to the company's credit facility.

Consents are needed from the holders of a least a majority of the notes.

Holders who consent will receive $2.50 per $1,000 principal amount of notes.

The consent solicitation will expire at 5 p.m. ET on Dec. 18.

Oppenheimer & Co., Inc. (212 885-4592) is the solicitation agent.

Ahern Rentals is a Las Vegas-based equipment rental company.

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