WillScot Announces Pricing of Senior Secured Notes Offering
12 Mars 2025 - 10:06PM
UK Regulatory
WillScot Announces Pricing of Senior Secured Notes Offering
PHOENIX, March 12, 2025 (GLOBE NEWSWIRE) --
WillScot Holdings Corporation (“WillScot” or the “Company”)
(Nasdaq: WSC), a leader in innovative temporary space solutions,
today announced the pricing of the private offering of $500.0
million aggregate principal amount of 6.625% senior secured notes
due 2030 (the “Notes”) by its indirect subsidiary Williams
Scotsman, Inc. (“WSI”). The Notes were priced at 100% of their face
value. The closing of the offering of the Notes is expected to
occur on or about March 26, 2025, subject to customary closing
conditions.
In connection with this offering, we issued a
notice of full conditional redemption providing for the redemption
(the “Redemption”) of all of WSI’s outstanding 6.125% senior
secured notes due 2025 (the “2025 Notes”) at a redemption price
equal to 100.00% of the principal amount of the 2025 Notes
outstanding, totaling $526.5 million, plus accrued and unpaid
interest to, but excluding, the redemption date (the “Redemption
Price”). Redemption in full of the 2025 Notes is conditioned on the
receipt by WSI of proceeds from a completed debt financing in an
amount, together with cash on hand, sufficient to fund the
aggregate Redemption Price.
WSI intends to use the approximately $493.5
million net proceeds of the offering, together with approximately
$33.0 million of anticipated additional borrowings under the
existing asset-based revolving credit facility, to finance the
Redemption, and to pay related fees and expenses.
The Notes will be offered only to persons
reasonably believed to be qualified institutional buyers pursuant
to Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”) and to non-U.S. persons outside the United States
in accordance with Regulation S under the Securities Act. The Notes
and the related guarantees will not be 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 the registration
requirements of the Securities Act and other applicable securities
laws.
This press release 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 jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
Additionally, nothing in this press release
constitutes a notice of redemption or any offer to purchase or
solicitation of an offer to sell any of the outstanding 2025 Notes.
The Redemption will be made solely pursuant to the separate
redemption notice that we have issued under the indenture governing
the 2025 Notes.
About WillScot
Listed on the Nasdaq stock exchange under the
ticker symbol “WSC,” WillScot is the premier provider of highly
innovative and turnkey space solutions in North America. The
Company’s comprehensive range of products includes modular office
complexes, mobile offices, classrooms, temporary restrooms,
portable storage containers, protective buildings and
climate-controlled units, and clearspan structures, as well as a
curated selection of furnishings, appliances, and other
supplementary services, ensuring turnkey solutions for its
customers. Headquartered in Phoenix, Arizona, and operating from a
network of approximately 260 branch locations and additional drop
lots across the United States, Canada, and Mexico, WillScot’s
business services are essential for diverse customer segments
spanning all sectors of the economy.
Cautionary Statement Regarding Forward
Looking Statements
This press release contains forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 and Section 21E of the Securities
Exchange Act of 1934, as amended. The words “estimates,” “expects,”
“anticipates,” “believes,” “forecasts,” “plans,” “intends,” “may,”
“will,” “should,” “shall,” “outlook,” “guidance,” “see,” “have
confidence” and variations of these words and similar expressions
identify forward-looking statements, which are generally not
historical in nature. Certain of these forward-looking statements
include statements relating to the timing and conduct of the
offering of the Notes, the size and terms of the offering of the
Notes and the closing of the offering of the Notes. Forward-looking
statements are subject to a number of risks, uncertainties,
assumptions and other important factors, many of which are outside
our control, which could cause actual results or outcomes to differ
materially from those discussed in the forward-looking statements.
These risks include, without limitation, risks and uncertainties
related to market conditions, that the size of the offering of the
Notes could change or the offering of the Notes could be
terminated, and the satisfaction of customary closing conditions
related to the offering of the Notes. Although the Company believes
that these forward-looking statements are based on reasonable
assumptions, they are predictions and we can give no assurance that
any such forward-looking statement will materialize. Any
forward-looking statement speaks only at the date on which it is
made, and the Company disclaims any obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Contact Information |
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Investor Inquiries: |
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Media Inquiries: |
Charlie Wohlhuter |
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Juliana Welling |
investors@willscot.com |
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juliana.welling@willscot.com |
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