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****************** Cautionary Notice Regarding Forward Looking Statements This press release contains statements reflecting assumptions, expectations, projections, intentions or beliefs about future events that are intended as “forward-looking statements,” particularly those statements concerning expectations regarding the use of proceeds from the offering.
Algeco Scotsman Global Finance plc priced its offering of senior secured notes (the “Senior Secured Notes”) which consist of the following tranches: Algeco Scotsman Global Finance 2 plc priced its offering of $305,000,000 aggregate principal amount Senior Notes due 2023 (the “Senior Notes” and, together with the Senior Secured Notes, the “Notes”).
The Senior Notes priced with a coupon of 10.00% per annum and a yield to maturity of 11.50%.
The proceeds of the Notes, together with proceeds from an equity contribution, borrowings under a new asset-based loan facility and cash on hand, will be used, among other things, to repay existing indebtedness, including all indebtedness outstanding under Algeco Scotsman’s existing asset-based loan facilities agreement, existing senior secured notes and existing senior unsecured notes.
The closing of the sale of the Notes is scheduled to be completed on February 15, 2018, and is subject to customary conditions.
Important Regulatory Notice This announcement contains information that prior to its disclosure may have constituted inside information under European Union Regulation 596/2014 on market abuse.
[email protected] (January 25, 2018) – Algeco Scotsman Global S.à r.l.
Although any forward-looking statements contained in this press release reflect management’s current beliefs based upon information currently available to management and upon assumptions which management believes to be reasonable, actual results may differ materially from those stated in or implied by these forward-looking statements.A number of risks and uncertainties could cause our actual results to differ materially from current projections, forecasts, estimates and expectations relating to us.Any or all of these forward-looking statements may turn out to be wrong.This transaction materially enhances our leading position in the Permian Basin and expands our presence in the Eagle Ford Basin.” Brad Archer, CEO Target Logistics: “We are proud to officially welcome Iron Horse Ranch to our team as part of our continued effort to build on our extensive network of turnkey workforce lodges in the United States.Iron Horse Ranch not only complements our existing footprint in the Permian Basin, but also shares our commitment to helping customers realize their full potential by providing a safe and comfortable environment away from the job site.” ****************** Cautionary Notice Regarding Forward Looking Statements This press release includes forward-looking statements within the meaning of the securities laws of certain applicable jurisdictions, which reflect the Algeco Group’s expectations regarding its future operational and financial performance.The company operates as Target Logistics in North America, Algeco in Europe, Elliott in the United Kingdom, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.