Emeco to start roadshow on Monday for $360 million five-year notes

By Paul A. Harris

Portland, Ore., Feb. 27 - Australia's Emeco Pty Ltd. plans to start a roadshow on Monday for a $360 million offering of five-year senior secured notes, according to an informed source.

The deal is set to price late in the week ahead.

Credit Suisse Securities (USA) LLC is the bookrunner for the Rule 144A and Regulation S for life offering.

The notes become callable after two years at par plus 50% of the coupon and feature a two-year 40% equity clawback and a 101% poison put.

The Osborne Park, Australia-based mining equipment rental company plans to use the proceeds to repay debt and for general corporate purposes.

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