Herc Holdings Inc. has announced a proposed private offering of $2,750 million in senior unsecured notes due in 2030 and 2033, intended to finance the acquisition of H&E Equipment Services, Inc. The offering will proceed unless market conditions dictate otherwise and will be conducted privately, exempt from specific registration requirements.
Key Points
- The senior unsecured notes will help fund Herc’s acquisition of H&E Equipment Services, which is ongoing.
- The acquisition involves a tender offer to buy H&E’s outstanding shares in cash and stock.
- The notes will be issued by a subsidiary and come with specific escrow release conditions depending on the deal’s progress.
- They are targeted at qualified institutional buyers both in the U.S. and internationally.
- Herc Holdings is a major player in the equipment rental industry with a significant revenue footprint and broad service offerings.
Why should I read this?
If you’ve got a stake in the construction or rental equipment market, this article packs some hefty information you won’t want to miss. It not only reveals Herc Holdings’ big plans but also highlights how they aim to expand their reach through smart financing and strategic acquisitions. Keeping up with these moves could save you time down the line, and who knows, it might just provide you with some valuable insights for future ventures!