ASHTEAD GROUP PLC has announced the pricing of $850 million aggregate principal amount of 5.800% senior notes due 2034 by its subsidiary, Ashtead Capital, Inc. The offering is expected to close on 29 January 2024 and the net proceeds will be used for general corporate purposes and to repay a portion of the outstanding borrowings under the First Priority Senior Secured Credit Facility. The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by Ashtead and certain subsidiaries.

The Notes are being offered in the United States to qualified institutional buyers and outside the United States to non-U.S. investors. They have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

Ashtead is a public limited company incorporated under the laws of England and Wales and its stock is publicly traded on the London Stock Exchange. The Company is one of the largest international equipment rental companies, with a network of 1,478 stores in the US, Canada, and the UK as of 31 October, 2023, operating under the name "Sunbelt Rentals."

The Notes are not intended to be offered, sold, or otherwise made available to any retail investor in the European Economic Area or the UK. The communication regarding the Notes is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons.

This announcement provides insight into ASHTEAD GROUP PLC's financial activities, including the pricing of senior notes and the intended use of the proceeds, as well as the targeted investor groups and regulatory considerations.