LONDON (dpa-AFX) - Ashtead Group plc (AHT.L), on Wednesday, announced the pricing of the offering of $750 million aggregate principal amount of 5.550% senior notes due 2033 by Ashtead Capital Inc., an indirect wholly owned subsidiary of Ashtead.
The issue price is 99.767% of the principal amount of the Notes. The offering is expected to close on 30 January 2023, subject to customary closing conditions. The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by Ashtead and certain of Ashtead's direct and indirect subsidiaries.
Ashtead further noted that it intends to use the net proceeds of the offering for general corporate purposes and will initially repay a portion of the outstanding borrowings under the First Priority Senior Secured Credit Facility, without a reduction in commitment.
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