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Ritchie Bros. Announces Senior Notes Offerings to Partially Fund Euro Auctions Acquisition
Ritchie Bros. Announces Senior Notes Offerings to Partially Fund Euro Auctions Acquisitio...
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[{"type":"text","content":"\n \n \n \n Ritchie Bros. Announces 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 \n VANCOUVER, BC\n \n ,\n \n Dec. 6, 2021\n \n /CNW/ - Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSX: RBA), (\"\n \n Ritchie Bros\n \n .\"), today announced that it intends to commence an offering for approximately\n \n $935 million\n \n aggregate principal amount of the following two series of senior notes subject to market conditions:\n \n \n \n US dollar-denominated Senior Notes due 2031 (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 Canadian dollar-denominated Senior Notes due 2029 (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.\n \n \n The Notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A of the Securities Act of 1933, as amended...