Algeco Scotsman Announces $20 Million Capital Raise
BALTIMORE, MD--(Marketwired - Oct 14, 2016) - Algeco Scotsman Global S.à r.l. today announced that one of its subsidiaries, Algeco Scotsman Global Finance plc (the "Borrower"), entered into a senior unsecured loan agreement (the "Agreement") with an affiliate (the "Lender") of its ultimate majority shareholder, TDR Capital LLP. The Agreement provides for borrowings in an aggregate amount of up to $20.0 million; all of which was drawn on October 11th, 2016 and is expected to be used for general corporate purposes. The Borrower is required to pay interest in cash on loans outstanding under the Agreement at an interest rate of 8.5% per annum, payable semi-annually in arrears. The Borrower expects to replace this loan in the near term with 8 1/2% Senior Secured Notes due 2018. The Agreement contains covenants and events of default similar to those of the senior secured notes indenture, dated as of October 11, 2012, and complies with the terms of Algeco Scotsman's long-term financing arrangements.
Forward Looking Statements
This press release may contain forward-looking statements, which reflect Algeco Scotsman's expectations regarding its future operational and financial performance. Although any forward-looking statements contained in this press release reflect management's current beliefs based upon information currently available to management and upon assumptions which management believes to be reasonable, actual results may differ materially from those stated in or implied by these forward-looking statements. A number of factors could cause actual results, performance or achievements to differ materially from the results expressed or implied in any forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on any forward-looking statements. Except as required by law, Algeco Scotsman undertakes no obligation, and specifically declines any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Algeco Scotsman
Algeco Scotsman is the leading global business services provider focused on modular space, secure portable storage solutions, and remote workforce accommodation management. Headquartered in Baltimore, Algeco Scotsman has operations in 25 countries with a modular fleet of approximately 275,000 units. The company operates as Williams Scotsman and Target Logistics in North America, Algeco in Europe, Elliott in the United Kingdom, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.
Investor Relations Contact:
Vice President, Finance
Information om Marketwired
Følg pressemeddelelser fra Marketwired
Skriv dig op her og modtag pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Marketwired
Bombardier Inc.15.2.2018 12:39 | pressemeddelelse
Bombardier Reports Fourth Quarter and Full Year 2017 Results
Bombardier Inc.14.2.2018 17:21 | pressemeddelelse
REMINDER/Media Advisory: Bombardier to report Fourth Quarter and Full Year 2017 Financial Results on February 15, 2018
Bombardier Inc.8.2.2018 17:01 | pressemeddelelse
Media Advisory: Bombardier to report Fourth Quarter and Full Year 2017 Financial Results on February 15, 2018
Lifesize, Inc.6.2.2018 08:01 | pressemeddelelse
Lifesize Drives Relentless Innovation, Boosts Customer Satisfaction With New Integrations, Features and Updates
Librestream Technologies Inc.24.1.2018 17:01 | pressemeddelelse
Librestream Announces the Onsight Cube, First Multi-Purpose Industrial Wearable Designed for Remote Mentoring in Ex-Rated Environments
Silexica16.1.2018 14:31 | pressemeddelelse
Silexica partners with Fujitsu on next-generation base station projects
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum