Williams Scotsman, Inc. (WSI), an indirect subsidiary of WillScot Holdings Corporation, announced the pricing of a private offering of $500.0 million aggregate principal amount of 6.625% senior secured notes due 2030. The notes were priced at 100% of their face value.
The closing of this offering is expected around March 26, 2025, subject to customary conditions. WSI intends to use the approximately $493.5 million net proceeds, along with $33.0 million of anticipated additional borrowings under the existing asset-based revolving credit facility, to fully redeem its outstanding 6.125% senior secured notes due 2025, totaling $526.5 million.
This refinancing initiative aims to extend the maturity profile of the company's debt and manage its interest expense. The redemption of the 2025 Notes is conditional upon the successful completion of this new debt financing, enhancing the company's long-term financial stability.
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