Ashtead Holdings talks $250 million 10-year notes at 8¾% area, pricing Wednesday

By Paul A. Harris

St. Louis, July 19 - Ashtead Holdings plc talked its $250 million offering of 10-year senior secured second-priority notes at the 8¾% area on Tuesday, according to a market source.

Pricing is expected on Wednesday.

Citigroup, JP Morgan and Deutsche Bank Securities have the books for the Rule 144A/Regulation S offering.

The notes come with five years of call protection.

Proceeds, together with the proceeds from an equity offering, will be used to refinance and clawback £43 million of the company's existing senior secured notes due 2014.

Ashtead is a Leatherhead, England, equipment rental company.

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