Algeco Scotsman moves towards €1.7bn deal, three quarters in dollars
Algeco Scotsman, a company that provides portable storage units, has released price guidance for its €1.725bn-equivalent high yield bond issue in euros and dollars. The deal will be heavily weighted to the US – only €250m of senior secured bonds and €200m of unsecured notes will be sold in euros.
This will leave a secured portion of 800m-equivalent and an unsecured tranche of 475m equivalent in dollars.
Price guidance was in the 8%-8.25% area on the senior secured euro notes and for the unsecured tranche 10%-10.25% area. Talk on the dollar notes was 25bp tighter on both tranches.
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