WillScot Holdings Corporation announced the successful expiration of its consent solicitations, with its indirect subsidiary Williams Scotsman, Inc. (WSI) receiving the necessary consents to amend its 6.625% Senior Secured Notes due 2029 and 7.375% Senior Secured Notes due 2031. Over 66 2/3% of holders for both series approved the Proposed Amendments, specifically 88% for the 2029 Notes and 83% for the 2031 Notes.
As a result, WSI intends to enter into supplemental indentures to the governing indentures on March 24, 2025, which will become effective upon execution. Consenting holders will receive an aggregate cash consideration of $500,000, or approximately $0.57 per $1,000 principal amount of 2029 Notes and $0.60 per $1,000 principal amount of 2031 Notes.
This successful completion provides WillScot with enhanced financial flexibility by modifying certain provisions of its existing debt. The company's ability to secure these amendments demonstrates strong bondholder support and strengthens its capital structure.
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