Alta Equipment Group Inc

NYSE:ALTGUnited States

Today

Show headlines and story abstract

• Alta Equipment Group Plans $500 Million Private Offering of Senior Secured Second Lien Notes, from 8 hours ago by MT Newswires

  8 hours ago by MT Newswires
  Companies Mentioned: ALTG
  08:17 AM EDT, 05/20/2024 (MT Newswires) -- Alta Equipment Group (ALTG) said Monday it plans to offer $500 million in senior secured second lien notes due 2029. The company said the notes will be guaranteed by all domestic subsidiaries and secured by...

• Alta Equipment Group Announces Proposed Private Offering of $500 Million of Senior Secured Second Lien Notes, from 9 hours ago by GlobeNewswire

  9 hours ago by GlobeNewswire
  Companies Mentioned: ALTG

• Press Release: Alta Equipment Group Announces Proposed Private Offering of $500 Million of Senior Secured Second Lien Notes, from 9 hours ago by Dow Jones

  9 hours ago by Dow Jones
  Companies Mentioned: ALTG
  
  Alta Equipment Group Announces Proposed Private Offering of $500 Million of Senior Secured Second Lien Notes
  
  LIVONIA, Mich., May 20, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE: ALTG) ("Alta" or the "Company"), today announced that it intends to offer, subject to market and other conditions, $500 million in aggregate principal amount of its senior secured second lien notes due 2029 in a private offering (the "offering") that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The notes will be guaranteed by all of the Company's domestic subsidiaries and will be secured by a second lien on substantially all of the assets of the Company and its domestic subsidiaries. Concurrent with the closing of the offering, the Company expects to amend and extend its existing $485 million senior secured asset-based revolving credit facility due 2026 (the "Existing ABL Facility") and $70 million floor plan facility due 2026 (the "Existing Floor Plan Facility") with a $520 million senior secured asset-based revolving credit facility due 2029 (the "New ABL Facility") and a $90 million floor plan facility due 2029 (together with the New ABL Facility, the "First Lien Facilities"). The First Lien Facilities will be secured by a first-priority lien on the same assets securing the notes. The Company intends to use the net proceeds from the offering, together with the proceeds of new borrowings under the First Lien Facilities, (i) to refinance a portion of the Existing ABL Facility and the Existing Floor Plan Facility prior to the amendments thereto, pay accrued and unpaid interest thereon, and pay related fees and expenses thereto, (ii) to redeem all of its outstanding 5.625% Senior Secured Second Lien Notes due 2026 (the "Existing Notes"), pay the premium, accrued and unpaid interest thereon, and pay related fees and expenses thereto, and (iii) for general corporate purposes to the extent there are any remaining proceeds. The offering and related refinancing is expected to be leverage neutral for the Company.
  

• Alta Equipment Group Announces Proposed Private Offering of $500 Million of Senior Secured Second Lien Notes, from 9 hours ago by Dow Jones

  9 hours ago by Dow Jones
  Companies Mentioned: ALTG
  
  Alta Equipment Group Announces Proposed Private Offering of $500 Million of Senior Secured Second Lien Notes
  
  LIVONIA, Mich., May 20, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE: ALTG) ("Alta" or the "Company"), today announced that it intends to offer, subject to market and other conditions, $500 million in aggregate principal amount of its senior secured second lien notes due 2029 in a private offering (the "offering") that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The notes will be guaranteed by all of the Company's domestic subsidiaries and will be secured by a second lien on substantially all of the assets of the Company and its domestic subsidiaries. Concurrent with the closing of the offering, the Company expects to amend and extend its existing $485 million senior secured asset-based revolving credit facility due 2026 (the "Existing ABL Facility") and $70 million floor plan facility due 2026 (the "Existing Floor Plan Facility") with a $520 million senior secured asset-based revolving credit facility due 2029 (the "New ABL Facility") and a $90 million floor plan facility due 2029 (together with the New ABL Facility, the "First Lien Facilities"). The First Lien Facilities will be secured by a first-priority lien on the same assets securing the notes. The Company intends to use the net proceeds from the offering, together with the proceeds of new borrowings under the First Lien Facilities, (i) to refinance a portion of the Existing ABL Facility and the Existing Floor Plan Facility prior to the amendments thereto, pay accrued and unpaid interest thereon, and pay related fees and expenses thereto, (ii) to redeem all of its outstanding 5.625% Senior Secured Second Lien Notes due 2026 (the "Existing Notes"), pay the premium, accrued and unpaid interest thereon, and pay related fees and expenses thereto, and (iii) for general corporate purposes to the extent there are any remaining proceeds. The offering and related refinancing is expected to be leverage neutral for the Company.