Algeco Scotsman Announces Closing of Notes Offering and Refinancing
BALTIMORE, Feb. 15, 2018 (GLOBE NEWSWIRE) -- Algeco Scotsman Global S.à r.l. ("A/S Global" and, together with its subsidiaries, "Algeco Scotsman"), today announced that two of its subsidiaries, Algeco Scotsman Global Finance plc and Algeco Scotsman Global Finance 2 plc, have closed their previously announced notes offerings.
Algeco Scotsman Global Finance plc issued the following tranches of senior secured notes due 2023 (the "Senior Secured Notes"):
- €600,000,000 6 1/2% Senior Secured Fixed Rate Notes;
- $520,000,000 8% Senior Secured Fixed Rate Notes; and
- €150,000,000 Senior Secured Floating Rate Notes.
Algeco Scotsman Global Finance 2 plc issued $305,000,000 10% Senior Notes due 2023 (the "Senior Notes" and, together with the Senior Secured Notes, the "Notes").
Additionally, Algeco Scotsman has obtained three-year cross currency swaps for the dollar-denominated Notes into euro, which will swap into euro the coupon and principal amount of 100% of the Senior Notes and $230 million of the dollar-denominated 81/2% Senior Secured Notes and the coupon of $290 million of dollar-denominated 81/2% Senior Secured Notes. Giving effect to the swaps, the weighted average interest rates for the Senior Secured Notes and Senior Notes are respectively 6.98% and 7.74% per annum.
The Notes offering formed part of a comprehensive refinancing of Algeco Scotsman's capital structure, which closed simultaneously. The refinancing additionally included the issuance of a privately-placed preferred stock facility for net proceeds of €327 million and a new $400 million syndicated senior secured asset-based credit facility. The proceeds were used to redeem the Algeco Group's existing Senior Secured Notes due 2018 and existing Senior Unsecured Notes due 2019, to refinance the existing asset-based credit facility and to pay for certain costs, fees and expenses.
The Notes were offered in a private placement transaction to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes have not been 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 registration requirements.
About Algeco Scotsman
Algeco Scotsman is the leading global business services provider focused on modular space, secure portable storage solutions, and remote workforce accommodation management. Headquartered in Baltimore, Algeco Scotsman has operations in 24 countries with approximately 245,000 modular space and portable storage units and 11,400 remote accommodations rooms. 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.
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. 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. They can be affected by inaccurate assumptions or by known or unknown risks, uncertainties and other factors, many of which are beyond our control.
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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.
Investor Relations Contact
Vice President, Finance
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Algeco Scotsman via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
Manufacturing Leadership Forum Will Highlight Enabling Industry 4.0 with Analytics25.9.2018 15:06 | Pressemelding
Upcoming Dates in Houston, Texas and Antwerp, Belgium PORTLAND, Ore., Sept. 25, 2018 (GLOBE NEWSWIRE) -- New dates for The Manufacturing Leadership Forum were announced today including Houston, Texas, US on October 9, 2018 at the Petroleum Club of Houston and on November 28, 2018 in Antwerp, Belgium at the Lindner WTC Hotel & City Lounge. The events are sponsored by Northwest Analytics, a leading provider of manufacturing intelligence and SPC software solutions for manufacturers. This premier manufacturing analytics educational event focuses on enabling Industry 4.0 programs with manufacturing analytics. The Forums will feature keynotes and case-study presentations from globally-recognized leaders in the application of manufacturing analytics. In its fourth year, The Manufacturing Leadership Forum will open with a keynote from analytics visionary, Dr. Lloyd Colegrove, Director of Data Services & Fundamental Problem Solving at The Dow Chemical Company. “The Manufacturing Leadership Foru
Checkpoint Therapeutics Announces Presentation of Updated Data from Phase 1/2 Trial of EGFR Inhibitor CK-10125.9.2018 14:00 | Pressemelding
Data were featured in an oral presentation at the IASLC 19th World Conference on Lung Cancer Phase 3 trial in treatment-naïve EGFR mutation-positive NSCLC patients targeted to commence in 2019 NEW YORK, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Checkpoint Therapeutics, Inc. (“Checkpoint”) (NASDAQ: CKPT), a clinical-stage immuno-oncology biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for patients with solid tumor cancers, today announced that positive preliminary safety and efficacy data from an ongoing Phase 1/2 clinical trial of CK-101 were presented yesterday in an oral presentation at the International Association for the Study of Lung Cancer (IASLC) 19th World Conference on Lung Cancer in Toronto. The oral presentation included further details on, and updates from, the dataset announced previously. CK-101 is a third-generation epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor (TKI) being evaluated in advanced non
SpeeDx Begins Multisite U.S. Clinical Trials of ResistancePlus® MG Test25.9.2018 14:00 | Pressemelding
Test supports international guidelines for treating antibiotic resistant STI SYDNEY, Australia, Sept. 25, 2018 (GLOBE NEWSWIRE) -- SpeeDx Pty. Ltd. today announced the start of patient testing in their multisite U.S.-based clinical trials for ResistancePlus® MG (not available for sale in the U.S.). The molecular diagnostic test detects the sexually transmitted infection (STI) Mycoplasma genitalium, also known as Mgen or MG, along with genetic markers linked to antibiotic resistance. In recent years, Mgen prevalence has increased globally and developed high rates of resistance to the common antibiotic treatment, azithromycin. "This test is an exciting new development that will increase the precision of patient care for patients impacted by Mycoplasma genitalium - a common sexually transmitted infection with limited treatment options,” notes Dr Maria Trent, Professor of Pediatrics and Public Health at Johns Hopkins Medicine. The SpeeDx ResistancePlus MG test is in use in laboratories acr
Novavax Initiates Phase 2 Clinical Trial of NanoFlu™ in Older Adults25.9.2018 13:00 | Pressemelding
First participants enrolled in Phase 2 clinical trial of quadrivalent NanoFlu formulations Top-line immunogenicity and safety data expected in the first quarter of 2019 Phase 2 results will support meeting with the U.S. Food and Drug Administration (FDA) and Phase 3 clinical trial design GAITHERSBURG, Md., Sept. 25, 2018 (GLOBE NEWSWIRE) -- Novavax, Inc. (NASDAQ: NVAX) today announced the initiation of a Phase 2 dose and formulation confirmation clinical trial in older adults of NanoFlu, its nanoparticle seasonal influenza vaccine candidate. “Initiating this Phase 2 clinical trial of NanoFlu is an important milestone for Novavax,” said Stanley C. Erck, President and Chief Executive Officer of Novavax. “With top-line results expected in the first quarter of 2019, we plan to discuss these data with the FDA at an ‘End of Phase 2’ meeting and to agree on the appropriate Phase 3 clinical trial design to support licensure via accelerated approval. We continue to believe NanoFlu is a differen
CGAP Launches Photo and Video Contest Theme for 2018: Financial Inclusion in Africa25.9.2018 13:00 | Pressemelding
This year's CGAP contest is the first ever to accept short video entries WASHINGTON, Sept. 25, 2018 (GLOBE NEWSWIRE) -- The Consultative Group to Assist the Poor’s (CGAP) 13th annual photo contest, launched today, is seeking striking images on financial inclusion in Africa. For the first time, short video submissions on Africa also will be accepted. Entries may be submitted through December 14, 2018. Each contestant may submit up to 20 photos or videos to compete for the Grand Prize worth US$ 2,000. This year CGAP is looking for original and compelling photographs and short videos that tell the story of how financial services empower poor people and communities in Africa. The region is a center for financial innovation -- home to M-Pesa, the mobile money service launched a decade ago now replicated across markets worldwide; host to vibrant FinTech and e-commerce companies; and to a growing off-grid sector that leverages digital finance. Together these innovators contribute toward lifti
Kick-starting health in the workplace25.9.2018 10:00 | Pressemelding
Over 800 organizations step, bike, swim and yoga their way to better health and wellbeing as the May 2018 Virgin Pulse Global Challenge Concludes ZURICH, Switzerland, Sept. 25, 2018 (GLOBE NEWSWIRE) -- On August 30th more than 270,000 people, across 144 countries, completed Virgin Pulse’s 100-day Global Challenge, moving them towards a more active, healthy and productive lifestyle. With this achievement, Virgin Pulse, an international leader in employee health and wellbeing, once again proves it’s helping to improve employee lives for good. The company’s Global Challenge event encourages exercise, mindfulness and healthy habits at work, leading to a happier culture and reduced costs to the organization. “Through increased awareness, education and motivation, employees master long-term, sustainable habits allowing them to arrive at work feeling more engaged, productive and equipped for peak performance,” says David Osborne, Chief Executive Officer of Virgin Pulse. “The follow-on effects
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom