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August 01, 2015 4:41 PM ET

Trading Companies and Distributors

Company Overview of H&E Equipment Services (California), LLC

Company Overview

H&E Equipment Services (California), LLC rents and leases construction and industrial equipments in Southern California. The company rents aerial work platforms, forklifts, trucks, backhoes, and other industrial and construction equipment to the general industrial, construction, and entertainment industries. It has locations in La Mirada, Santa Fe Springs, San Diego, and Bakersfield, California. The company was formerly known as Eagle High Reach Equipment, LLC and changed its name to H&E Equipment Services (California), LLC in March, 2006. The company is based in Baton Rouge, Louisiana. As of March 1, 2006, H&E Equipment Services (California), LLC operates as a subsidiary of H&E Equipment Se...

11100 Mead Road

Suite 200

Baton Rouge, LA 70816

United States

Phone:

225-298-5200

Fax:

225-298-5377

Key Executives for H&E Equipment Services (California), LLC

H&E Equipment Services (California), LLC does not have any Key Executives recorded.

H&E Equipment Services (California), LLC Key Developments

H&E Equipment Services Inc. Great Northern Equipment, Inc. and H&E Equipment Services (California), LLC Amends Existing Senior Secured Credit Facility

On February 5, 2015, H&E Equipment Services, Inc. amended its existing senior secured credit facility with General Electric Capital Corporation as administrative agent, by entering into Amendment No. 1 to its Fourth Amended and Restated Credit Agreement by and among the Company, Great Northern Equipment, Inc., H&E Equipment Services (California), LLC, the other credit parties named therein, the lenders named therein, General Electric Capital Corporation, as administrative agent, Bank of America, N.A. as co-syndication agent and documentation agent, Wells Fargo Capital Finance, LLC, as co-syndication agent and Deutsche Bank Securities Inc. as joint lead arranger and joint book runner. The Amendment, among other things, increases the aggregate amount of revolving loan commitments under the credit facility from $402.5 million to $602.5 million. As amended, the Credit Agreement continues to provide for a guaranty by the Company and each of its subsidiaries of the obligations under the credit facility. In addition, the borrowers under the credit facility remain the same and the credit facility remains secured by substantially all of the assets of the Company and its subsidiaries.

H&E Equipment Services Inc., Great Northern Equipment, Inc. and H&E Equipment Services (California), LLC Amended Existing $402.5 Million Senior Secured Credit Facility

On May 21, 2014, H&E Equipment Services, Inc. amended, extended and restated its existing $402.5 million senior secured credit facility with General Electric Capital Corporation as administrative agent, by entering into the Fourth Amended and Restated Credit Agreement by and among the company, Great Northern Equipment, Inc., H&E Equipment Services (California), LLC, the other credit parties named therein, the lenders named therein, General Electric Capital Corporation, as administrative agent, Bank of America, N.A. as co-syndication agent and documentation agent, Wells Fargo Capital Finance, LLC, as co-syndication agent and Deutsche Bank Securities Inc. as joint lead arranger and joint bookrunner. The Amended and Restated Credit Agreement, among other things, (i) extends the maturity date of the credit facility from February 29, 2017 to May 21, 2019, (ii) increases the uncommitted incremental revolving capacity from $130 million to $150 million, (iii) permits a like-kind exchange program under Section 1031 of the Internal Revenue Code of 1986, as amended, (iv) provides that the unused commitment fee margin will be either 0.50%, 0.375% or 0.25%, depending on the ratio of the average of the daily closing balances of the aggregate revolving loans, swing line loans and letters of credit outstanding during each month to the aggregate commitments for the revolving loans, swing line loans and letters of credit, (v) lowers the interest rate (a) in the case of index rate revolving loans, to the index rate plus an applicable margin of 0.75% to 1.25% depending on the leverage ratio and (b) in the case of LIBOR revolving loans, to LIBOR plus an applicable margin of 1.75% to 2.25%, depending on the leverage ratio, (vi) lowers the margin applicable to the letter of credit fee to between 1.75% and 2.25%, depending on the leverage ratio, and (vii) permits, under certain conditions, for the payment of dividends and/or stock repurchases or redemptions on the capital stock of the company of up to $75 million per calendar year and further additionally permits the payment of the special cash dividend of $7.00 per share previously declared by the company on August 20, 2012 to the holders of outstanding restricted stock of the company following the declared payment date with such permission not tied to the vesting of such restricted stock (which would include the company's planned payment in June 2014 of all amounts remaining payable to the holders of the current outstanding restricted stock of the company with respect to such special dividend that was otherwise payable following the applicable vesting dates in May and July 2014 and 2015). The Amended and Restated Credit Agreement continues to provide, among other things, a $402.5 million senior secured asset based revolver, including a $30 million letter of credit subfacility, and a guaranty by the company and each of its subsidiaries of the obligations under the credit facility. In addition, the borrowers under the credit facility remain the same and the credit facility remains secured by substantially all of the assets of the company and its subsidiaries.

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