Algeco Scotsman Refinances $2.8 Billion of Debt and Expands Operations Into Australia
(firmenpresse) - BALTIMORE, MD -- (Marketwire) -- 10/11/12 -- Algeco Scotsman, the global leader of modular space and secure portable storage solutions, announced that it has simultaneously completed the combination with Ausco Modular ("Ausco") in Australia and New Zealand and the refinancing of Algeco Scotsman's and Ausco's existing debt facilities.
Algeco Scotsman's new long term capital structure includes a $1.2 billion asset-backed credit facility due 2017 and $1,075 million aggregate principal amount of 8.50% Senior Secured Notes due 2018, EUR 275 million aggregate principal amount of 9.00% Senior Secured Notes due 2018 (collectively, the "Senior Secured Notes") and $745 million aggregate principal amount of 10.75% Senior Unsecured Notes due 2019 (the "Senior Unsecured Notes" and, together with the Senior Secured Notes, the "Notes"). Substantially concurrent with the debt refinancing, Ausco, the leading provider of modular space in Australia and New Zealand, was contributed to Algeco Scotsman by TDR Capital, the company's majority shareholder.
The Notes and related guarantees will be offered only to qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities or blue sky laws and foreign securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, any securities, nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135(c) under the Securities Act.
Algeco Scotsman is the leading global business services provider focused on modular space and secure portable storage solutions. Operating as Williams Scotsman in North America, Algeco in Continental Europe, Elliott in the United Kingdom, Eurobras in Brazil, Ausco in Australia, and Portacom in New Zealand, the company manages a fleet of more than 340,000 units, with operations in 38 countries including Australia, Austria, Belgium, Brazil, Canada, China, Czech Republic, Finland, France, Germany, Hungary, Italy, Lithuania, Luxembourg, Mexico, Netherlands, New Zealand, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine, United Arab Emirates, United Kingdom, and United States.
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Datum: 11.10.2012 - 17:38 Uhr
Sprache: Deutsch
News-ID 191800
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BALTIMORE, MD
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Construction
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