Ritchie Bros. Announces Closing of Senior Notes Offering to Partially Fund IAA Merger
VANCOUVER, BC, March 15, 2023 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.," the "Company," "we," "us" or "our"), today announced that its subsidiary, Ritchie Bros. Holdings Inc. (the "Issuer"), has closed an offering of (a) $550 million aggregate principal amount of 6.750% senior secured notes due March 15, 2028 (the "Secured Notes") and (b) $800 million aggregate principal amount of 7.750% senior notes due March 15, 2031 (the "Unsecured Notes" and collectively with the Secured Notes, the "Notes").
The Notes are the senior secured obligations of the Issuer, secured only by the amounts deposited in the applicable escrow account. Upon consummation
