Loxam to use up to €1.5 billion bridge facilities to acquire Ramirent

By Marisa Wong

Morgantown, W.Va., June 10 – Loxam SAS said it will use debt facilities under bridge agreements of up to €1.5 billion to help finance its acquisition of Ramirent plc.

Loxam will also use cash on its balance sheet to finance the offer.

Availability of the debt facilities is subject to “certain funds” conditions, the company noted.

Loxam is an equipment rental company based in Paris. Helsinki, Finland-based Ramirent also offers equipment rental.

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