BALTIMORE, Jan 25 (Bernama-GLOBE NEWSWIRE) --
Algeco Scotsman Global S.à r.l. (“A/S Global” and, together with its
subsidiaries, “Algeco Scotsman”), today announced that two of its
affiliates are launching notes offerings.
Algeco Scotsman Global
Finance plc is offering €1,120,000,000 (equivalent) in aggregate
principal amount of senior secured notes due 2023 (the “Senior Secured
Notes”), which may consist of euro-denominated senior secured fixed rate
notes and senior secured floating rate notes and U.S.
dollar-denominated senior secured fixed rate notes. In addition, Algeco
Scotsman Global Finance 2 plc is offering €295,000,000 (equivalent) in
aggregate principal amount of senior notes due 2023, which may be
denominated in euro and/or U.S. dollar (the “Senior Notes” and, together
with the Senior Secured Notes, the “Notes”).
The proceeds of the
Notes, together with proceeds from an equity contribution, borrowings
under a new asset-based loan facility and cash on hand, will be used,
among other things, to repay existing indebtedness, including all
indebtedness outstanding under Algeco Scotsman’s existing asset-based
loan facilities agreement, existing senior secured notes and existing
senior unsecured notes.
The Notes are being offered in a private
placement transaction to qualified institutional buyers in accordance
with Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”), and outside the United States to non-U.S. persons in
accordance with Regulation S under the Securities Act. The Notes 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 registration
requirements.
About Algeco Scotsman
Algeco
Scotsman is the leading global business services provider focused on
modular space, secure portable storage solutions, and remote workforce
accommodation management. Headquartered in Baltimore, Algeco Scotsman
has operations in 24 countries with approximately 245,000 modular space
and portable storage units and 11,400 remote accommodations rooms. The
company operates as Target Logistics in North America, Algeco in Europe,
Elliott in the United Kingdom, Ausco in Australia, Portacom in New
Zealand, and Algeco Chengdong in China.
Cautionary Notice Regarding Forward Looking Statements
This
press release contains statements reflecting assumptions, expectations,
projections, intentions or beliefs about future events that are
intended as “forward-looking statements,” particularly those statements
concerning expectations regarding the use of proceeds from the offering.
A number of risks and uncertainties could cause our actual results to
differ materially from current projections, forecasts, estimates and
expectations relating to us. Any or all of these forward-looking
statements may turn out to be wrong. They can be affected by inaccurate
assumptions or by known or unknown risks, uncertainties and other
factors, many of which are beyond our control.
Disclaimer
This
press release shall not constitute a solicitation of a proxy, consent
or authorization with respect to any securities and shall not constitute
an offer to sell or the solicitation of an offer to buy any securities,
nor shall there be any sale of securities in any states or
jurisdictions in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such jurisdiction.
Important Regulatory Notice
This
announcement contains information that prior to its disclosure may have
constituted inside information under European Union Regulation 596/2014
on market abuse.
Investor Relations Contact
Scott Shaughnessy
Vice President, Finance
Algeco Scotsman
+1 410-933-5921
Scott.Shaughnessy@as.willscot.com
Source : Algeco Scotsman
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