WSC - WillScot Mobile Mini Announces $500 Million Senior Secured Notes Offering | Benzinga
PHOENIX, Sept. 11, 2023 (GLOBE NEWSWIRE) -- WillScot Mobile Mini Holdings Corp. ("WillScot Mobile Mini" or the "Company") (NASDAQ:WSC), the North American leader in innovative flexible space and storage solutions, today announced that its indirect subsidiary Williams Scotsman, Inc. ("WSI") plans to offer, subject to market and other conditions, $500 million aggregate principal amount of senior secured notes due 2031 (the "Notes"). The Notes will be WSI's general second lien senior secured obligations, guaranteed on a senior secured basis by each of WSI's direct and indirect domestic subsidiaries that guarantees WSI's obligations under the existing ABL credit facility and WSI's direct parent, Williams Scotsman Holdings Corp.
WSI intends to use the net proceeds of the offering to repay approximately $494 million of outstanding indebtedness under its existing ABL credit facility and to pay related fees and expenses.
The Notes will be offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act. The Notes and the related guarantees will not be registered under the Securities Act or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the ...