Ashtead will pay down bank debt with new notes

Chicago, Jan. 25 – Ashtead Group plc announced that it would be repaying bank debt with new notes that are being issued by subsidiary Ashtead Capital Inc., according to a press release and a market source.

The proceeds from the new notes will initially be used to repay a portion of the borrowings outstanding under the company’s first priority senior secured credit facility, without a reduction in the commitment.

The British industrial equipment rental company is based in London.

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