UK’s Ashtead sells $400m tap of 9yr high yield bond
Ashtead, the UK-based equipment rental company, sold a $400m tap of its 6.5% 2022 high yield bond on Wednesday.
The issue was increased from a planned $300m and priced at 106 to yield 5.608%.
“It was a very fast process,” said a banker at one of the leads. “There was no credit work to be done. It was nothing funky.”Ashtead used the proceeds to repay some ...