LONDON (dpa-AFX) - Ashtead Group plc (AHT.L), on Wednesday, announced pricing of the offering of $550 million aggregate principal amount of 1.500% senior notes due 2026 and $750 million aggregate principal amount of 2.450% senior notes due 2031 by Ashtead Capital Inc., an indirect wholly owned subsidiary of Ashtead.
The issue prices are 99.741% of the principal amount of the 2026 Notes and 99.745% of the principal amount of the 2031 Notes, respectively. The offering is expected to close on 12 August 2021, subject to customary closing conditions.
Ashtead noted that it intends to use the net proceeds of the offering to fund the redemption of all of its outstanding 4.125% Senior Notes due 2025 and 5.250% Senior Notes due 2026, including the payments of premiums and accrued interest to the redemption date. Ashtead expects to use any remaining net proceeds from the offering for general corporate purposes.
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