Mobile Mini solicits tenders, consents for 9.5% notes due 2013

By Laura Lutz

Des Moines, April 9 - Mobile Mini, Inc. launched a tender offer and consent solicitation for all of its $97.5 million outstanding principal amount of 9.5% senior notes due 2013.

The tender offer will expire at 11:59 p.m. ET on May 4. The consent solicitation will end at 5 p.m. ET on April 20.

The company is soliciting consents to amend the notes to eliminate substantially all of the restrictive covenants and some events of default. Consents from holders of a majority of the notes will be required for adoption of the amendements.

For each $1,000 principal amount of notes tendered by the consent deadline, the total consideration will be based on a fixed spread of 50 basis points over the yield of the 5.125% U.S. Treasury due June 30,2008. The payout will be calculated on April 20.

The total consideration will include a $30.00 per $1,000 principal amount consent payment. Notes tendered after the consent deadline will not receive the consent payment.

The company will also pay accrued interest for the notes.

Settlement of the offer depends on conditions including receipt of consents from holders of a majority of the notes and availability of sufficient funds.

Deutsche Bank Securities Inc. (collect 212 250-5655) is the dealer manager, and MacKenzie Partners, Inc. (212 929-5500 or 800 322-2885) is the information agent.

Based in Phoenix, Mobile Mini provides portable storage solutions.

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