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Ashtead closes $1.2bn notes offering

10 August 2017 08:33

Ashtead Group's wholly-owned subsidiary, Ashtead Capital, has closed its private offering of notes totalling $1.2bn.

The offering comprised $600m of 4.125% second priority senior secured notes due 2025 and $600m of 4.375% second priority senior secured notes due 2027.

The notes are fully and unconditionally guaranteed on a senior secured basis by Ashtead and certain of the group's direct and indirect subsidiaries.

Ashtead previously said it intended to use the net proceeds to:

- repurchase all or any of Ashtead Capital's outstanding 6.50% second priority senior secured notes (of which approximately $900m

- pay related fees and expenses

- repay a portion of the outstanding amounts borrowed under its first priority senior secured credit facility

At 8:33am: (LON:AHT) Ashtead Group PLC share price was -8.5p at 1614.5p

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