Alta Equipment to price $300 million five-year secured notes on Tuesday; initial talk 6%-6¼%

By Paul A. Harris

Portland, Ore., March 23 – Alta Equipment Group Inc. plans to price a $300 million offering of five-year senior secured second-lien notes on Tuesday, according to market sources.

Initial guidance has the notes coming to yield 6% to 6¼%, a trader said.

J.P. Morgan Securities LLC is leading the sale.

The notes come with two years of call protection.

The Livonia, Mich.-based provider of industrial forklifts, heavy construction equipment and warehouse solutions plans to use the proceeds plus $390 million of first-lien facilities to repay debt, with any remaining proceeds for general corporate purposes.

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