WillScot to price $300 million five-year notes during July 30 week; early talk 7¼%-7½%

By Paul A. Harris

Portland, Ore., July 30 – Willscot Corp. plans to price $300 million of five-year senior secured notes (B) during the July 30 week, according to a market source.

Initial guidance has the Rule 144A and Regulation S deal coming with a yield in the 7¼% to 7½% area.

Deutsche Bank Securities Inc. is managing the sale.

The notes come with two years of call protection.

Proceeds, together with funds from other sources, will be used to finance the pending acquisition of Modular Space Holdings, Inc.

The Baltimore-based issuer is a wholly owned subsidiary of Williams Scotsman International Inc., a supplier of modular space systems for the construction, education, health care, government, retail, commercial, transportation, security and energy sectors.

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