Ashtead prepares benchmark-sized senior notes offering

Chicago, July 24 – Ashtead Group plc is preparing a benchmark-sized offering of senior notes (Baa2/BBB-/BBB), according to an announcement.

Ashtead Capital Inc. will be the issuer, and the notes will be guaranteed by Ashtead Group.

Proceeds will be used for general corporate purposes and will initially repay a portion of the outstanding borrowings under a first-priority senior secured credit facility, without a reduction in the commitment.

Distribution will be through Rule 144A and Regulation S.

The British industrial equipment rental company is based in London.

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