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General Finance Corp 7.875% Senior Notes due 10/31/2025
Ticker Symbol: GFNSZ* CUSIP: 369822804 Exchange: NGM
* NOTE: This security is no longer trading as of 6/24/2021
Security has been Called for: Thursday, June 24, 2021
May 25, 2021, immediately following the Merger, GFN gave notice of its intention to redeem all of its outstanding $69,000,000 aggregate principal amount 7.875% Senior Securities due 2025 (CUSIP Number 369822 804) (the “Notes”) on June 24, 2021 (the “Notes Redemption Date”), at a redemption price equal to (a) 100% of the aggregate principal amount of the Notes to be redeemed; and (b) the excess, if any, of (A) the present value at the Notes Redemption Date of: (i) the redemption price of Note on October 31, 2022 (104.50% of the principal amount but excluding accrued and unpaid interest to the Notes Redemption Date) plus (ii) all remaining scheduled interest payments due on the Notes through October 31, 2022 (but excluding accrued and unpaid interest to the Notes Redemption Date), discounted to the Notes Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points; over (B) the principal amount of the Notes on the Notes Redemption Date; plus, in either case of (a) or (b), accrued and unpaid interest, if any, to the Notes Redemption Date (subject to the right of Holders on the relevant record date to receive interest due on the relevant Interest Payment Date), in accordance with the terms of the Indenture, dated as of June 18, 2014 (the “Base Indenture”), among GFN and Wells Fargo Bank, National Association (“Wells Fargo”), as trustee and the Third Supplemental Indenture, dated as of October 27, 2020 (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), among GFN, The Bank of New York Mellon Trust Company, N.A., as Series Trustee (the “Trustee”), and Wells Fargo, as Original Trustee.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: General Finance Corp 7.875% Senior Notes due 2025 issued in $25 denominations, redeemable at the issuer's option 10/31/2022 at $26.125 per note plus accrued and unpaid interest, and maturing 10/31/2025. Interest distributions of 7.875% per annum ($1.96875 per annum or $0.4921875 per quarter) will be paid quarterly on 1/31, 4/30, 7/31 & 10/31 to holders of record on the record date that will be (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. The issuer may call the notes prior to 10/31/2022 by paying the principle amount plus a make-whole amount (see prospectus for further information). The issuer may redeem the 7.875% Senior Notes in whole or in part, after 10/31/2022 but prior to 10/31/2023 at $26.125 (104.50%) plus accrued and unpaid interest, after 10/31/2023 but prior to 10/31/2024 at $25.5625 (102.50%) plus accrued and unpaid interest, after 10/31/2024 at $25.00 (100%) plus accrued and unpaid interest. Upon the occurrence of a change of control the holder will have the option to tender the Notes at $25.25 (101%) per share plus accrued and unpaid interest. This security was not rated by Moody’s or S&P at the time of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (URI)
IPO - 10/22/2020 - 2.40 Million Notes @ $25/note.
Link to IPO Prospectus
Market Value $60.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 39 East Union Street, Pasadena, CA 91103 |
| Main Phone Number |
626-584-9722 |
| Fax Number |
626-795-8090 |
| Investor Relations
Larry Clark, Financial Profiles, Inc.
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310-478-2700
Ext: 29
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Toll Free Phone Number |
Unknown |
| CEO - Jody E. Miller |
CFO - Charles E. Barrantes |
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