H&E Equipment Services Inc.

Business & Technology
11:17 am
Tue August 7, 2012

H&E Equipment plans debt sell

BATON ROUGE — H&E Equipment Services Inc., a Baton Rouge-based construction machinery provider, plans to sell $480 million in debt to investors.

The company says H&E will use the proceeds to retire existing debt and pay a special, one-time cash dividend of $246 million, or roughly $7 per share.

The Advocate reports the company's board of directors must approve the dividend, its amount and the date it will be paid.