By Paul A. Harris
Portland, Ore., Aug. 11 – WillScot Mobile Mini Holdings Corp. priced a $500 million issue of eight-year senior secured notes (B3/B+) at par to yield 4 5/8% in a Tuesday drive-by, according to market sources.
The yield printed at the tight end of yield talk in the 4¾% area. Initial talk was in the 5% area.
J.P. Morgan Securities LLC was the lead.
The notes were sold via Williams Scotsman International, Inc.
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 noted due 2023, after giving effect to the redemption of 10% of the notes, as announced on July 27, 2020.
| Issuer: | Williams Scotsman International, Inc.
|
| Amount: | $500 million
|
| Tenor: | Eight years
|
| Securities: | Senior secured notes
|
| Lead: | J.P. Morgan Securities LLC
|
| Coupon: | 4 5/8%
|
| Price: | Par
|
| Yield: | 4 5/8%
|
| Call protection: | Three years
|
| Trade date: | Aug. 11
|
| Ratings: | Moody's: B3
|
| S&P: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 4¾% area
|
| Marketing: | Drive-by
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
