Herc Holdings Inc. (HRI) Thursday said its subsidiary, Herc Holdings Escrow, Inc. (Escrow Issuer) intends to offer $2.750 billion aggregate principal amount of senior unsecured notes due 2030.
The company noted that the offering is part of the financing for the Company's proposed acquisition of H&E Equipment Services, Inc.
"Upon the closing of the Acquisition and release of the net proceeds of the Offering from the escrow account, the Company intends to use the net proceeds from the Offering, together with the proceeds of other financing transactions related to the Acquisition, to (i) finance the consummation of the Acquisition, (ii) fund the redemption of existing outstanding indebtedness of H&E, and (iii) pay related fees, costs, premiums and expenses in connection with these transactions," the company said in a statement.
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