Nachrichten May 05, 2023

Loxam’s €300 Million Notes Offering and €100 Million Exchange Offers

Shearman & Sterling advised J.P. Morgan SE, BNP Paribas, Deutsche Bank Aktiengesellschaft, Barclays Bank Ireland PLC, BofA Securities Europe SA, Crédit Agricole Corporate and Investment Bank, Crédit Industriel et Commercial S.A., Natixis, and Société Générale, as initial purchasers, on Loxam’s €300 million new money offering of 6.375% senior secured notes due 2028 (the “New Notes”).

The Firm also advised the banks, as dealer managers, on Loxam’s concurrent offers to exchange its outstanding 3.25% senior secured notes due 2025 and 6.00% senior subordinated notes due 2025, in each case for New Notes. In connection with the exchange offers, the company issued €100 million of New Notes.

The New Notes are guaranteed on a senior basis by Loxam Module S.A.S., Nationwide Platforms Limited, Ramirent Finland Oy and Ramirent AB, and are secured on a first-priority basis by certain intellectual property rights and the share capital of certain of Loxam’s subsidiaries. The transactions, which were conducted pursuant to Regulation S under the U.S. Securities Act, closed simultaneously on May 5, 2023.

Loxam is the leading equipment rental company in Europe and the fourth-largest in the world with a network of over 1,090 branches across 30 countries on four continents.

The Team


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