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General Finance Corporation (NASDAQ:GFN) announced the redemption of its remaining outstanding 8.125% Senior Notes due July 2021, totaling $11.6 million. The redemption will occur on January 15, 2021, at a price of $25 per Note, plus any accrued interest. Funding for this redemption will come from borrowings under its North American senior credit facility, which has been amended to extend its maturity until July 31, 2025. This strategic move indicates the company's commitment to managing its debt effectively.
General Finance Corporation (NASDAQ: GFN) announced plans to partially redeem its 8.125% Senior Notes due July 2021. On December 23, 2020, the company will redeem $8.6 million of the Notes at $25 each, including accrued interest. The redemption will be funded using cash on hand. This strategic move reflects the company’s approach to managing its debt obligations effectively and enhances overall financial stability.
General Finance Corporation (NASDAQ:GFN) announced the full exercise of the underwriters' overallotment option for its public offering of 7.875% Senior Notes due 2025, resulting in an additional $9.0 million in principal. This brings the total net proceeds of the offering to $65.8 million, after deductions. The company intends to use these proceeds to redeem a portion of its existing 8.125% Senior Notes due July 2021. The initial offering was completed on October 27, 2020, for a total of $60.0 million.
General Finance Corporation (NASDAQ: GFN) reported its Q1 2021 financial results, showing a 5% increase in rental revenues from core non-liquid containment products in North America. Total revenues declined to $82.4 million, down from $89.8 million year-over-year. Leasing revenues were $52.3 million compared to $58.9 million in Q1 2020.
Net income attributed to shareholders was $3.2 million or $0.10 per diluted share, down from $5.0 million or $0.16 per diluted share last year. Adjusted EBITDA was $21.1 million, a decrease from $25.1 million in the prior year.
General Finance Corporation (NASDAQ: GFN) announced a partial redemption of its 8.125% Senior Notes due July 2021, redeeming $57.2 million of the $77.4 million outstanding principal. The redemption will occur on November 30, 2020, at a price of $25 per Note plus accrued interest. This move is part of the Company's strategy to manage its debt effectively and will be funded using cash on hand. The announcement emphasizes GFN's commitment to disciplined financial management.
General Finance Corporation (NASDAQ: GFN) has successfully closed a public offering of $60 million in 7.875% Senior Notes due 2025. The net proceeds, amounting to approximately $57.2 million after deductions, will be utilized to redeem part of the existing $77.4 million of its 8.125% Senior Notes due July 2021. The new notes are expected to trade on NASDAQ under the symbol "GFNSZ" within 30 days. An additional $9 million option for underwriters to cover overallotments has been granted.
General Finance Corporation (NASDAQ:GFN) has announced the pricing of a $60 million underwritten public offering of 7.875% Senior Notes due 2025. The offering, subject to customary closing conditions, is expected to close around October 27, 2020. The Company plans to utilize the net proceeds to redeem a part of its outstanding 8.125% Senior Notes due July 2021. Additionally, the underwriters have an option to purchase an extra $9 million in aggregate principal. The Notes are set to be listed on NASDAQ under the symbol 'GFNSZ.'
General Finance Corporation (NASDAQ:GFN) has announced the commencement of an underwritten public offering of Senior Notes due 2025. The proceeds will be utilized to redeem a portion of its $77.4 million principal amount of 8.125% Senior Notes, set to mature in July 2021. D.A. Davidson & Co., B. Riley Securities, Inc., and Janney Montgomery Scott LLC are the joint book-running managers for the offering. The registration statement relating to the securities has been filed with the SEC and declared effective, ensuring compliance with securities laws.
General Finance Corporation (NASDAQ: GFN) will announce its financial results for the first quarter of fiscal year 2021, ending September 30, 2020, on November 9, 2020.
A conference call will follow at 8:30 a.m. PT to discuss the results. U.S. participants can join at (866) 901-5096, while international participants can call (706) 643-3717. A replay will be available until November 23, 2020. Interested parties can also access a live webcast through the Company's website.
General Finance Corporation (NASDAQ:GFN) has declared a cash dividend of $2.30 per share on its 9.00% Series C Cumulative Redeemable Perpetual Preferred Stock (GFNCP). This marks the thirtieth dividend payment to shareholders, covering the period from July 31, 2020 to October 30, 2020. The payment will be made on November 2, 2020 to stockholders of record as of October 30, 2020. This announcement underscores the company’s commitment to returning value to its investors.
