Baker McKenzie has advised EquipmentShare.com Inc on its offering of an additional $400 million 9.000% Senior Secured Second Lien Notes due 2028 (the “Additional Notes”). The offering size was increased from the previously announced offering size of $300 million. The Baker McKenzie team previously represented EquipmentShare on its debut offering of 9.000% Senior Secured Second Lien Notes due 2028 in an aggregate principal amount of $640 million (the “Original Notes”). Mizuho Securities USA LLC and Citigroup acted as joint physical bookrunning managers for the successful private offering of the Additional Notes.
The Additional Notes were issued as additional securities under the existing indenture governing the Original Notes and will form a single series with the Original Notes, including with respect to waivers, amendments, redemptions and offers to purchase. The Additional Notes will have the same terms and conditions as those that apply to the Original Notes other than the issue date and offering price and will be fungible with the Original Notes for U.S. federal income tax purposes.
The Baker McKenzie team was led by partners Marc Paul (Washington D.C.), Rob Mathews (London, UK) and Ben Bierwirth (London, UK), senior associate Adam Buehler (Miami, FL) and supported by associates Alexander Fields (New York, NY) and Henry Gee (London, UK).
The bond offering closed on September 21, 2023.
“It was a renewed pleasure working with the EquipmentShare team on its successful add-on bond offering. In the backdrop of a challenging macro-economic environment, the successful execution and upsize of the offering is a testament to the company’s continued dynamic growth and success” said Marc Paul, principal at Baker McKenzie’s Washington, DC office and former head of the firm’s North American transactional practice.
The Additional Notes were issued as additional securities under the existing indenture governing the Original Notes and will form a single series with the Original Notes, including with respect to waivers, amendments, redemptions and offers to purchase. The Additional Notes will have the same terms and conditions as those that apply to the Original Notes other than the issue date and offering price and will be fungible with the Original Notes for U.S. federal income tax purposes.
The Baker McKenzie team was led by partners Marc Paul (Washington D.C.), Rob Mathews (London, UK) and Ben Bierwirth (London, UK), senior associate Adam Buehler (Miami, FL) and supported by associates Alexander Fields (New York, NY) and Henry Gee (London, UK).
The bond offering closed on September 21, 2023.
“It was a renewed pleasure working with the EquipmentShare team on its successful add-on bond offering. In the backdrop of a challenging macro-economic environment, the successful execution and upsize of the offering is a testament to the company’s continued dynamic growth and success” said Marc Paul, principal at Baker McKenzie’s Washington, DC office and former head of the firm’s North American transactional practice.
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