Williams Scotsman to start roadshow Tuesday for $300 million minimum notes

By Paul A. Harris

St. Louis, Sept. 1 - Williams Scotsman Inc. will start a roadshow Tuesday for a $300 million minimum offering of 10-year high-yield notes, according to a syndicate source.

Pricing is expected to take place during the week of Sept. 12.

Deutsche Bank Securities, Citigroup, Banc of America Securities LLC and Lehman Brothers are joint bookrunners for the Rule 144A offering. CIBC World Markets is the co-manager.

The notes will come with five years of call protection.

There will be a concurrent initial public offering of stock and a concurrent $650 million asset-backed credit facility.

Proceeds will be used to help fund the tender for the company's 9 7/8% senior notes due 2007 and its 10% senior secured notes due 2008.

Williams Scotsman is a Baltimore, Md., provider of modular space solutions for the construction, education, commercial and industrial, and government markets.

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