Evergreen Tank Solutions, Inc. supplies equipment for liquid and solid temporary storage, pumping, and filtration. It offers frac tanks, roll-off boxes, dewatering boxes, pumps, poly tanks, steel tanks, stainless steel tankers, vacuum boxes, metal lid boxes, filtration units, spill containments, and accessories. The company also offers equipment for short term and long term rental purposes. It serves petrochemical, petroleum refining, environmental, pipeline, oilfield, power generation, oil and gas, construction, municipal and government, maritime, manufacturing, mining, and paper and pulp industries in Texas, Louisiana, Tennessee, Georgia, Alabama, Arizona, Illinois, Kansas, Missouri, Penns...
16441 Space Center Boulevard
Suite D 2
Houston, TX 77058
Founded in 2007
NES Rentals Holdings, Inc. Announces Early Settlement of Tender Offer and Call for Redemption of Remaining 121/4% Second Lien Senior Secured Notes Due 2015
Apr 17 13
NES Rentals Holdings, Inc. announced the early settlement of its previously announced cash tender offer and consent solicitation with respect to all of its outstanding $150.0 million aggregate principal amount of 121/4% Second Lien Senior Secured Notes due 2015. The tender offer and consent solicitation were subject to the satisfaction or waiver of certain conditions, including, among others, the consummation of a proposed refinancing transaction by the Company yielding net proceeds in an amount sufficient to fund all of its obligations under the tender offer and consent solicitation and any subsequent redemption of Notes that remain outstanding and in connection with the repayment in full of the Company's second lien term loan due 2014. As of April 17, 2013, these conditions were satisfied and, pursuant to the terms and conditions of the tender offer and consent solicitation as set forth in the Company's Offer to Purchase and Consent Solicitation Statement, dated April 1, 2013, the company accepted for purchase all $84,806,000 of the outstanding aggregate principal amount of Notes that had been tendered on or prior to 5:00 p.m., New York City time, on April 16, 2013. Subject to the terms and conditions set forth in the Offer to Purchase, holders who validly tendered their Notes on or prior to the Consent Date will receive the total consideration of $1,067.50 per $1,000 principal amount of Notes accepted for purchase, which includes a consent payment of $7.50 per $1,000 principal amount of Notes, plus accrued and unpaid interest up to, but not including, April 17, 2013, the date of early settlement for the tender offer and consent solicitation. The tender offer remains open and is scheduled to expire at 11:59 p.m., New York City time, on April 26, 2013, unless extended or earlier terminated by the company, assuming satisfaction or waiver of the conditions to the tender offer. Holders of Notes tendered after the Consent Date will not receive the consent payment. Notes tendered after the Consent Date but on or prior to the Expiration Date may not be withdrawn, except where the Company elects to allow such withdrawal or in limited circumstances where withdrawal rights are required by law. The company also announced that it has called for redemption all of the remaining outstanding Notes that were not purchased on the early settlement date of the tender offer and consent solicitation, in accordance with the redemption provisions of the indenture governing the Notes (the 'Indenture'). The redemption date for the remaining outstanding Notes will be May 17, 2013 (the "Redemption Date"). The redemption price for the remaining outstanding Notes will be $1,061.25 per $1,000 principal amount of Notes, plus accrued and unpaid interest up to, but not including, the Redemption Date. Payment of the redemption price will be made on or promptly after the Redemption Date. A notice of redemption, which more fully describes the terms and conditions of the redemption, has been sent to all holders of the remaining outstanding Notes. In connection with the redemption, the Company satisfied and discharged its obligations under the Indenture in accordance with the satisfaction and discharge provisions of the Indenture by depositing with the trustee sufficient funds to pay all amounts owed in connection with the redemption of the remaining outstanding Notes. As a result of the satisfaction and discharge of the Indenture, the Company has been released from its remaining obligations under the Indenture and the Notes. Deutsche Bank Securities Inc. is acting as the dealer manager and solicitation agent and D.F. King & Co., Inc. is acting as the tender agent and information agent for the tender offer and consent solicitation. Requests for documents may be directed to D.F. King & Co., Inc.