WillScot Announces Pricing of Senior Secured Notes Offering
Summary
PHOENIX, March 12, 2025 (GLOBE NEWSWIRE) -- WillScot Holdings Corporation (WillScot or the Company) (Nasdaq: WSC), a leader in innovative temporary space solutions, today announced the pricing of the private offering of $500.0 million aggregate principal amount of 6.625% senior secured notes due 2030 (the Notes) by its indirect subsidiary Williams Scotsman, Inc. (WSI). Redemption in full of the 2025 Notes is conditioned on the receipt by WSI of proceeds from a completed debt financing in an amount, together with cash on hand, sufficient to fund the aggregate Redemption Price.WSI intends to use the approximately $493.5 million net proceeds of the offering, together with approximately $33.0 million of anticipated additional borrowings under the existing asset-based revolving credit facility, to finance the Redemption, and to pay related fees and expenses.The Notes will be offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act) and to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act. The Redemption will be made solely pursuant to the separate redemption notice that we have issued under the indenture governing the 2025 Notes.Listed on the Nasdaq stock exchange under the ticker symbol WSC, WillScot is the premier provider of highly innovative and turnkey space solutions in North America. The Companys comprehensive range of products includes modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, protective buildings and climate-controlled units, and clearspan structures, as well as a curated selection of furnishings, appliances, and other supplementary services, ensuring turnkey solutions for its customers. Headquartered in Phoenix, Arizona, and operating from a network of approximately 260 branch locations and additional drop lots across the United States, Canada, and Mexico, WillScots business services are essential for diverse customer segments spanning all sectors of the economy.This press release contains forward-looking statements within the meaning of the U.S.
Funding
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