Loan & DebtJul 2, 2026, 06:07 AM
EquipmentShare Closes $1.35B Senior Secured Second Lien Notes Offering
AI Summary
EquipmentShare.com Inc. announced the closing of its previously announced private offering of $1,350 million in new senior secured second lien notes due 2034. The notes were issued at 100.000% of their principal amount and carry an interest rate of 7.125% per year. They are secured by a second-priority lien on substantially all of the company's and future guarantor's assets and are pari passu with other existing second lien notes.
Key Highlights
- EquipmentShare closed a private offering of $1,350 million aggregate principal amount of new senior secured second lien notes.
- The notes, due July 1, 2034, bear interest at a rate of 7.125% per year, payable semi-annually.
- Issued at 100.000% of their principal amount, the notes are secured by a second-priority lien on company assets.
- The notes are guaranteed by current and future domestic subsidiaries that guarantee first-priority lien obligations.
- Redemption options include a make-whole premium before July 1, 2029, and specific prices thereafter.
- Up to 40% of notes can be redeemed with equity offering proceeds at 107.125% before July 1, 2029.
- Holders can require repurchase at 101% upon certain changes of control.
- The notes rank pari passu with other second lien notes and junior to the senior secured asset-based revolving credit facility.
Price Impact
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