Ahern Rentals $175 million eight-year notes talked at 9¼%-9½%, to price Thursday

By Paul A. Harris

St. Louis, Aug. 10 - Ahern Rentals Inc. talked its $175 million offering of eight-year second-priority senior secured notes at 9¼% to 9½% on Wednesday, according to an informed source.

Pricing is expected on Thursday.

CIBC World Markets has the books for the Rule 144A with registration rights offering. Banc of America Securities LLC is the co-manager.

The notes come with four years of call protection.

Proceeds will be used to repay debt.

Moody's Investors Service assigned its B3 rating to the notes. Standard & Poor's assigned the notes a rating of B-.

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

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