H&E Equipment Services Announces Pricing of Tender Offer

July 11, 2006 -- H&E Equipment Services, Baton Rouge, La., and its wholly owned subsidiary, H&E Finance Corp. ("H&E Finance" and together with H&E Inc., the "Issuers") recently announced the pricing terms of its previously announced cash tender offer and consent solicitation for its 11 1/8% senior secured notes due 2012, and 12 1/2% senior subordinated notes due 2013. As a result of the extension of the price determination date from June 7, 2006 to July 6, 2006, the pricing terms of the tender offer and consent solicitation previously announced on June 7, 2006 have been recalculated.

 

The total consideration for the senior secured notes and senior subordinated notes was determined by reference to a fixed spread of 50 basis points above the yield to maturity of the applicable U.S. Treasury security as described in the Offer to Purchase and Consent Solicitation Statement of the Issuers, dated May 25, 2006. The reference yield for the Notes was 5.408%.

 

The total consideration per $1,000 principal amount of senior secured notes that are validly tendered prior to midnight EST on July 20, 2006 will be $1,097.74, and the total consideration per $1,000 principal amount of senior subordinated notes that are validly tendered prior to the expiration date will be $1,116.13. In each case, the total consideration per $1,000 principal amount of notes that are validly tendered prior to the expiration date includes a cash consent payment of $30.00. Holders of notes validly tendered prior to the expiration date will also receive accrued and unpaid interest on their Notes up to, but not including, the payment date for the tender offer and consent solicitation.