Alta Equipment issues $500M 9% second-lien notes due 2029; redeems $315M 5.625% notes

ALTA EQUIPMENT GROUP INC.

Issued $500M aggregate principal of 9.000% Senior Secured Second Lien Notes due 2029; sold at 2.906% discount, netting ~$485.5M.
Net proceeds used to refinance ABL and floor plan facilities, redeem $315M of 5.625% Existing Notes due 2026, and for general corporate purposes.
ABL facility borrowing capacity increased to $520M; floor plan facility to $90M; combined maximum $969M.
Notes are second-lien secured, guaranteed by domestic subsidiaries, and subordinated to ABL and floor plan first-lien debt.

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