H&E Equipment Services, Inc. Announces Closing of Add-On Senior Notes Offering
November 22 2017 - 9:00AM
Business Wire
H&E Equipment Services, Inc. (NASDAQ: HEES) (the
“Company”) today announced the closing of an offering of $200
million in aggregate principal amount of 5.625% senior notes due
2025 (the “New Notes”) in a private placement (the “Offering”). The
New Notes are senior unsecured obligations of the Company and are
guaranteed by the Company’s current and future significant domestic
restricted subsidiaries.
The New Notes were issued as additional notes under an indenture
dated as of August 24, 2017 pursuant to which the Company
previously issued $750,000,000 in aggregate principal amount of its
5.625% senior notes due 2025 (the “Existing Notes”). The New Notes
have identical terms to the Existing Notes, other than the issue
date and the issue price, and form a part of a single class of
notes with the Existing Notes for all purposes under the
indenture.
The net proceeds of the Offering of the New Notes, after
deducting estimated discounts and offering expenses, were
approximately $205.5 million, which will be used to repay
indebtedness outstanding under the Company’s existing ABL credit
facility, to fund potential acquisitions in connection with its
ongoing strategy of acquiring rental companies to complement its
existing business and footprint, for general corporate purposes and
to pay fees and expenses in connection with the Offering.
The New Notes and related guarantees were 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 New 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 thereunder.
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 plans to repay certain
indebtedness (including the terms and success of such repayment),
the use of proceeds of the offering and 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 Securities and Exchange Commission, 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171122005334/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
H and E Equipment Services (NASDAQ:HEES)
Historical Stock Chart
From Aug 2024 to Sep 2024
H and E Equipment Services (NASDAQ:HEES)
Historical Stock Chart
From Sep 2023 to Sep 2024