H&E Equipment Services, Inc. Announces Commencement of Offering of Senior Notes
August 17 2017 - 8:33AM
Business Wire
H&E Equipment Services, Inc. (NASDAQ: HEES) (the
“Company” or “H&E”) today announced that it has commenced an
offering through a private placement, subject to market and other
conditions, of $750 million in aggregate principal amount of the
Company’s senior notes due 2025 (the “Notes”). The Notes will be
the senior unsecured obligations of the Company and will be
guaranteed by all of the Company’s current and future domestic
restricted subsidiaries.
The Company expects to use the net proceeds from the offering to
pay the consideration payable to purchase its existing 7% senior
notes due 2022 (the “Existing Notes”) tendered and accepted for
purchase in the Company’s tender offer for the Existing Notes or
otherwise redeem, repurchase or discharge the Existing Notes, to
pay fees and expenses incurred in connection with the foregoing and
the Notes offering and to repay a portion of the amounts
outstanding under its existing ABL credit facility.
The Notes and related guarantees are being offered in a private
placement, solely to qualified institutional buyers in reliance on
Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”), or outside the United States to persons other
than “U.S. persons” in compliance with Regulation S under the
Securities Act. The Notes and related guarantees have not been
registered under the Securities Act or the securities laws of any
other jurisdiction and may not be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirements.
This notice does not constitute an offer to sell the Notes, nor
a solicitation for an offer to purchase the Notes, in any
jurisdiction in which such offer or solicitation would be unlawful.
Any offer of the Notes will be made only by means of a private
offering memorandum. This press release is being issued pursuant to
and in accordance with Rule 135c under the Securities Act.
About H&E Equipment Services, Inc.
The Company is one of the largest integrated equipment services
companies in the United States with 79 full-service facilities
throughout the West Coast, Intermountain, Southwest, Gulf Coast,
Mid-Atlantic and Southeast regions. The Company is focused on heavy
construction and industrial equipment and rents, sells and provides
parts and services support for four core categories of specialized
equipment: (1) hi-lift or aerial platform equipment;
(2) cranes; (3) earthmoving equipment; and
(4) industrial lift trucks. By providing equipment rental,
sales, on-site parts, repair and maintenance functions under one
roof, the Company is a one-stop provider for its customers’ varied
equipment needs. This full service approach provides the Company
with multiple points of customer contact, enabling it to maintain a
high quality rental fleet, as well as an effective distribution
channel for fleet disposal and provides cross-selling opportunities
among its new and used equipment sales, rental, parts sales and
services operations.
Forward-Looking Statements
Statements contained in this press release that are not
historical facts, including statements about H&E’s beliefs and
expectations, are “forward-looking statements” within the meaning
of the federal securities laws. Statements that are not historical
facts, including statements about our beliefs and expectations are
forward-looking statements. Statements containing the words “may,”
“could,” “would,” “should,” “believe,” “expect,” “anticipate,”
“plan,” “estimate,” “target,” “project,” “intend,” “foresee” and
similar expressions constitute forward-looking statements.
Forward-looking statements involve known and unknown risks and
uncertainties, which could cause actual results to differ
materially from those contained in any forward-looking statement.
Such factors include, but are not limited to, the following:
(1) the contemplated size of the offering, possible completion
of the offering and tender offer, the prospective impact of a note
offering or tender offer, plans to repay certain indebtedness
(including the terms and success of such repayment) and the use of
proceeds of the offering; (2) general economic conditions and
construction and industrial activity in the markets where we
operate in North America; (3) our ability to forecast trends
in our business accurately, and the impact of economic downturns
and economic uncertainty in the markets we serve; (4) the
impact of conditions in the global credit and commodity markets and
their effect on construction spending and the economy in general;
(5) relationships with equipment suppliers; (6) increased
maintenance and repair costs as we age our fleet and decreases in
our equipment’s residual value; (7) our indebtedness;
(8) risks associated with the expansion of our business and
any potential acquisitions we may make, including any related
capital expenditures; (9) our possible inability to integrate
any businesses we acquire; (10) competitive pressures;
(11) security breaches and other disruptions in our
information technology systems; (12) adverse weather events or
natural disasters; (13) compliance with laws and regulations,
including those relating to environmental matters and corporate
governance matters; and (14) other factors discussed in our
public filings, including the risk factors included in the
Company’s most recent Annual Report on Form 10-K. Investors,
potential investors and other readers are urged to consider these
factors carefully in evaluating the forward-looking statements and
are cautioned not to place undue reliance on such forward-looking
statements. Except as required by applicable law, including the
securities laws of the United States and the rules and regulations
of the SEC, we are under no obligation to publicly update or revise
any forward-looking statements after the date of this release.
These statements are based on the current beliefs and assumptions
of H&E’s management, which in turn are based on currently
available information and important, underlying assumptions.
H&E is under no obligation to publicly update or revise any
forward-looking statements after this press release, whether as a
result of any new information, future events or otherwise.
Investors, potential investors, security holders and other readers
are urged to consider the above mentioned factors carefully in
evaluating the forward-looking statements and are cautioned not to
place undue reliance on such forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170817005542/en/
H&E Equipment Services, Inc.Leslie S. Magee,
225-298-5261Chief Financial Officerlmagee@he-equipment.comorKevin
S. Inda, 225-298-5318Vice President of Investor
Relationskinda@he-equipment.com
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