Ahern Rentals Inc. announced yesterday on its quarterly earnings call that it intends to refinance its outstanding $550 million principal amount of 7.375% second priority senior secured notes due 2023 through an offering of new bonds, and that Oppenheimer & Co. has been retained as a bookrunner.
The company expects to launch the transaction in September. A copy of the company's most recent earnings report can be found via the Datasite that can be accessed by filling out an investor form located at www.ahern.com/investor-information.
Ahern Rentals, based in Las Vegas, is No. 7 on the RER 100, with a reported $681.8 million in 2020 rental revenue and $844.8 million in total revenue, with 106 locations.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.