Ashtead Group unit begins tender for $900 million 6½% notes due 2022

By Susanna Moon

Chicago, Aug. 2 – Ashtead Group plc said wholly owned subsidiary Ashtead Capital, Inc. began a cash tender for its $900 million outstanding 6½% second priority senior secured notes due 2022.

The purchase price will be $1,035.50 for each $1,000 principal amount of notes plus accrued interest up to but excluding the payment date, according to company announcement.

The tender offer will end at 5 p.m. ET on Aug. 8, and the deadline for guaranteed delivery procedures is 5 p.m. ET on the second business day after the offer ends.

Settlement has been set for Aug. 9.

J.P. Morgan Securities LLC (866 834-4666 or 212 834-3424) is the dealer manager. Global Bondholder Services Corp. (212 430-3774, 866 470-3900 or gbsc-usa.com/Ashtead) is the depositary and the information agent.

Ashtead is a Leatherhead, England-based equipment rental company.

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