By Paul A. Harris
Portland, Ore., July 2 – Algeco Global Finance plc priced an upsized €175 million issue of 6½% senior secured mirror notes due March 15, 2023 (B2/expected B-/expected B+) at 94 to yield 9.14% on Thursday, according to a market source.
Bookrunners were Goldman Sachs, BofA Securities and Deutsche Bank.
The issue size increased from €150 million.
Proceeds will be used for general corporate purposes, including certain strategic investments and add-on acquisitions.
London-based Algeco Scotsman provides modular space, secure portable storage solutions and remote workforce accommodation management.
| Issuer: | Algeco Global Finance plc
|
| Amount: | €175 million, increased from €150 million
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| Maturity: | March 15, 2023
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| Security description: | Notes mirroring the 6½% senior secured notes due March 15, 2023
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| Bookrunners: | Goldman Sachs, BofA Securities and Deutsche Bank
|
| Coupon: | 6½%
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| Price: | 94
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| Yield: | 9.14%
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| Trade date: | July 2
|
| Ratings: | Moody's: B2
|
| S&P: B- (expected)
|
| Fitch: B+ (expected)
|
| Distribution: | Rule 144A and Regulation S
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