Ritchie Bros. intends to commence an offering for approximately $935 million aggregate principal amount of the following two series of senior notes, subject to market conditions:
Ritchie Bros. 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 acquisitions of Euro Auctions, William Keys & Sons Holdings, Equipment & Plant Services and Equipment Sales Ltd and related fees and expenses. The gross proceeds from the offering, together with additional amounts from cash on hand or borrowings from Ritchie Bros.’ existing credit facilities to prefund accrued interest will be held in an escrow account pending the consummation of the acquisitions.
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