List Your Equipment For Free  /  Seller Login

Ritchie Bros. Announces Plans to Fund IronPlanet Acquisition

Ritchie Bros. says that it intends to offer $500M aggregate principal amount of senior notes, subject to market conditions.

Wed November 30, 2016 - National Edition
Construction Equipment Guide


The gross proceeds from the offering, together with additional amounts from cash on hand or borrowings from our existing credit facilities to prefund accrued interest, will be held in an escrow account pending the consummation of the IronPlanet acquisition.
The gross proceeds from the offering, together with additional amounts from cash on hand or borrowings from our existing credit facilities to prefund accrued interest, will be held in an escrow account pending the consummation of the IronPlanet acquisition.

Ritchie Bros. Auctioneers Incorporated announced Nov. 30 that it intends to offer $500 million aggregate principal amount of senior notes (the "Notes") subject to market conditions.

Ritchie Bros. intends to use the net proceeds, 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 acquisition of IronPlanet Holdings, Inc. ("IronPlanet") and related fees and expenses. The gross proceeds from the offering, together with additional amounts from cash on hand or borrowings from our existing credit facilities to prefund accrued interest, will be held in an escrow account pending the consummation of the IronPlanet acquisition.

The Notes will be offered and sold only to qualified institutional buyers in reliance on Rule 144A of the Securities Act of 1933, as amended (the "Securities Act"), and outside the U.S. to non-U.S. persons in reliance on Regulation S of the Securities Act. The Notes have not been and will not be registered under the Securities Act or any state securities laws and, unless so registered, 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. The Notes have not been and will not be qualified for sale to the public by prospectus under applicable Canadian securities laws and accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws.

This news release shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.




Today's top stories

Florida's Sarasota Bradenton International Airport Sees $105M Terminal Expansion

Louisville Pump Station Receives $230M Update

Rokbak Haul Track Telematics Boost Uptime With Proactive Maintenance

SISO Air, InTerra Form Strategic Reseller Agreement

Hitachi Construction Machinery Wins Silver in 2024 Anthem Award

Balfour Beatty's Carolinas Operations Selected for Over $36M in Special Project Works

Caterpillar to Spotlight 'Next 100 Years' at CES 2025

Liebherr to Exhibit at World of Concrete 2025


 







39.95234 \\ -75.16379 \\ Fort Washington \\ PA