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Ashtead Capital plans to price five-, 10-year notes, sets talk
By Marisa Wong and Cristal Cody
Los Angeles, Aug. 3 – Ashtead Capital Inc. plans to price notes (BBB-) in two tranches due Aug. 12, 2026 and Aug. 12, 2031, according to a market source.
The benchmark-sized notes will be guaranteed by parent company Ashtead Group plc, according to a company press release.
Price talk for the five-year bonds is in the Treasuries plus 120 basis points area, and price talk for the 10-year notes is in the Treasuries plus 170 bps area.
Fixed-income investor calls were held Monday.
BofA Securities Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the bookrunners for the Rule 144A and Regulation S offering.
Proceeds are earmarked for the redemption of the company’s outstanding 4.125% senior notes due 2025 and 5.25% senior notes due 2026.
Ashtead is an industrial equipment rental company based in London.
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