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Ritchie Bros. Announces Pricing of Senior Notes Offerings to Partially Fund Euro Auctions Acquisition
Ritchie Bros. Announces Pricing of Senior Notes Offerings to Partially Fund Euro Auctions...
About this update from Rb Global, Inc.
[{"type":"text","content":"\n \n \n \n Ritchie Bros. Announces Pricing of Senior Notes Offerings to Partially Fund Euro Auctions Acquisition\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Dec. 7, 2021\n \n /CNW/ -\n \n Ritchie Bros\n \n . Auctioneers Incorporated (NYSE: RBA) (TSX: RBA) (\"\n \n Ritchie Bros\n \n .\"), today announced that it has priced its previously announced offering of the following two series of senior notes, with each series of notes to be issued at par:\n \n \n \n an aggregate of\n \n US$600 million\n \n aggregate principal amount of 4.750% Senior Notes due\n \n December 15, 2031\n \n (the \"USD notes\") to be issued by\n \n Ritchie Bros\n \n . Holdings Inc., a\n \n Washington\n \n corporation and wholly-owned subsidiary of\n \n Ritchie Bros\n \n .; and\n \n \n \n \n an aggregate of\n \n C$425 million\n \n aggregate principal amount of 4.950% Senior Notes due\n \n December 15, 2029\n \n (the \"Canadian notes\" and, together with the USD notes, the \"Notes\") to be issued by\n \n Ritchie Bros\n \n . Holdings Ltd., a Canadian federal corporation and wholly-owned subsidiary of\n \n Ritchie Bros\n \n .\n \n \n \n \n Ritchie Bros\n \n . intends to use the net proceeds from the offering of the Notes, together with proceeds from its delayed-draw term loan and cash on hand or available under its revolving facilities, to fund the consideration payable in the previously announced acquisition of Euro Auctions Limited (\"Euro Auctions\"),\n \n William Keys\n \n & Sons Holdings Limited (\"WKS Holdings\"), Equipment & Plant Services Ltd (\"EPSL\") and Equipment Sales Ltd (\"ESL\" and together with Euro Auctions, WKS Holdings, and EPSL, the \"Target Companies\") and related fees and expenses. The gross proceeds from the offering, together with additional amounts from cash on hand or borrowings from our existing credit facilities to prefund accrued interest, will be held in an escrow account pending the consummation of the acquisition of the Target Companies (the \"Acquisition\"). The offering of the Notes is ex...