H&E Equipment Services, Inc. Announces Pricing of Senior Notes Offering
BATON ROUGE, La. -- January 30, 2013
H&E Equipment Services,Inc. (NASDAQ: HEES) (the “Company”) today announced
the pricing of $100 million aggregate principal amount of its 7% senior notes
due 2022 (the “Notes”) in an unregistered offering (the “Offering”). The Notes
were priced at 108.5% of the principal amount. The Notes will be senior
unsecured obligations of the Company and will be guaranteed by certain of its
domestic subsidiaries. The Offering is expected to close on February 4, 2013,
subject to the satisfaction of customary closing conditions.
The Notes will be issued as additional notes under an indenture dated as of
August 20, 2012 pursuant to which the Company previously issued $530,000,000
of 7% senior notes due 2022 (the “Existing Notes”). The Notes will rank
equally with and form a part of a single class of securities with such
The Company expects to use the proceeds from the Offering to repay
indebtedness outstanding under its revolving credit facility and for the
payment of related fees and expenses.
The Notes and related guarantees are being offered in a private placement
solely to qualified institutional buyers in reliance on Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”), or outside the
United States to persons other than “U.S. persons” in compliance with
Regulation S under the Securities Act. The Notes and related guarantees have
not been 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.
This press release does not constitute an offer to sell or a solicitation of
an offer to buy the Notes or any other securities, and shall not constitute an
offer, solicitation or sale in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful. Any offer of the Notes will be
made only by means of a private offering memorandum. This press release is
being issued pursuant to and in accordance with Rule 135c under the Securities
Certain statements contained herein are “forward-looking statements” within
the meaning of the federal securities laws. Statements that are not historical
facts, including statements about our beliefs and expectations are
forward-looking statements. Statements containing the words “may,” “could,”
“would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,”
“target,” “project,” “intend” and similar expressions constitute
forward-looking statements. Forward-looking statements involve known and
unknown risks and uncertainties, which could cause actual results to differ
materially from those contained in any forward-looking statement. Such factors
include, but are not limited to, (1) the Company’s ability to satisfy the
conditions contained in the agreement with the initial purchaser with respect
to the Offering; and (2) other factors discussed in our public filings,
including the risk factors included in the Company’s most recent Annual Report
on Form 10-K and Quarterly Report on Form 10-Q. Readers are urged to consider
these factors carefully in evaluating the forward-looking statements and are
cautioned not to place undue reliance on such forward-looking statements.
Except as required by applicable law, including the securities laws of the
United States and the rules and regulations of the SEC, we are under no
obligation to publicly update or revise any forward-looking statements after
the date hereof.
H&E Equipment Services,Inc.
Leslie S. Magee, 225-298-5261
Chief Financial Officer
Corporate Communications, Inc. (CCI)
Kevin S. Inda, 407-566-1180
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