H&E Equipment Services announced the pricing of $100 million aggregate principal amount of its 7-percent senior notes due 2022 in an unregistered offering. The notes were priced at 108.5 percent of the principal amount and will be senior unsecured obligations of the company and will be guaranteed by certain of its domestic subsidiaries. The offering is expected to close on Feb. 4, 2013, subject to the satisfaction of customary closing conditions.
The notes will be issued as additional notes under an indenture dated as of Aug. 20, 2012 pursuant to which the company previously issued $530 million of 7 percent senior notes due 2022. The notes will rank equally with and form a part of a single class of securities with such existing notes.
The company expects to use the proceeds from the offering to repay debt under its revolving credit facility and for the payment of related fees and expenses.
The notes and related guarantees are being offered in a private placement solely to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended, or outside the United States to persons in compliance with Regulation S under the Securities Act.
Baton Rouge, La.-based H&E Equipment Services is No. 11 on the RER 100.