WillScot Mobile Mini to sell $500 million eight-year notes on Tuesday; initial talk 5% area

By Paul A. Harris

Portland, Ore., Aug. 11 – WillScot Mobile Mini Holdings Corp. plans to price a $500 million offering of eight-year senior secured notes (B3/B+) in a Tuesday drive-by, according to market sources.

Initial talk has the Rule 144A and Regulation S notes coming to yield in the 5% area, a trader said.

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

The notes come with three years of call protection.

The issuing entity will be Williams Scotsman International, Inc., an indirect subsidiary of WillScot Mobile Mini.

The Phoenix-based provider of turnkey modular space and portable storage solutions plans to use the proceeds to redeem all $441 million of the Williams Scotsman International 6 7/8% senior secured notes due 2023, after giving effect to the redemption of 10% of the notes, as announced on July 27.

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