Algeco Scotsman to sell €1.68 billion seven-, eight-year notes

By Paul A. Harris

Portland, Ore., Sept. 17 - Algeco Scotsman plans to price €1,675,000,000 of notes in two tranches during the Sept. 24 week, according to an informed source.

The deal includes a €1 billion tranche of seven-year senior secured notes, which come with three years of call protection, and a €675 million of eight-year senior unsecured notes, which come with four years of call protection.

Deutsche Bank Securities Inc. is leading a syndicate of underwriters that also includes Barclays.

Proceeds will be used to repay debt and to fund the acquisition of Ausco Modular.

Algeco Scotsman is a Baltimore-based provider focused on modular space and secure storage solutions.

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