Baker McKenzie Guides EquipmentShare Through Successful Consent Solicitations

Baker McKenzie, a leading global law firm, has successfully advised EquipmentShare.com Inc. on recent consent solicitations concerning its senior secured second lien notes. The consent solicitations, which expired on July 16, 2025, sought approvals from holders of two distinct sets of notes: the 9.000% senior secured second lien notes due 2028 and the 8.625% senior secured second lien notes due 2032. This strategic move aimed to amend certain provisions of the indentures governing these debts, facilitating the management of EquipmentShare's consolidated indebtedness.

The amendments involved altering specific covenants and definitions within the indentures, aligning them with the provisions set forth in a newly established indenture governing EquipmentShare’s $500 million aggregate principal amount of 8.000% senior secured second lien notes due 2033. Notably, these amendments did not modify any economic terms or fundamental provisions, ensuring that the consent of affected holders was not required for any significant changes.

Marc Paul, a partner at Baker McKenzie in Washington, D.C., noted the strategic importance of the amendments in enhancing the operational flexibility of EquipmentShare. 'Our team worked diligently to ensure that the consent process was smooth and beneficial for our client,' Paul stated. He was joined by partners Rob Mathews and Ben Bierwirth from the London office, along with associates Fani Chlampoutaki and Henry Gee, among other professionals from the firm.

The consent solicitations received positive responses, with the required consents delivered and not revoked by holders representing at least a majority in aggregate principal amount of the outstanding notes for each series, excluding any notes owned by EquipmentShare or its affiliates. Following this successful solicitation, the amendments became effective on July 17, 2025.

EquipmentShare, recognized as a technology-driven equipment rental and solutions provider, has been actively restructuring its financial obligations to optimize its operations in a competitive market. The company aims to enhance its debt management strategy while maintaining its commitment to innovation in the construction and equipment rental industry.

Industry experts have emphasized the significance of such amendments in the current economic climate. Dr. Sarah Johnson, a Professor of Finance at New York University, commented, 'In an environment where companies are navigating through increased interest rates and economic uncertainty, effective debt restructuring is vital for sustaining operations and growth.'

Baker McKenzie’s involvement in these consent solicitations reflects its robust capability in handling complex financial transactions, particularly in the capital markets sector. The firm has established a reputation for providing strategic legal advice that aligns with the evolving needs of its diverse clientele across various sectors, including technology and infrastructure.

As EquipmentShare continues to adapt to market dynamics, the implications of these amendments will likely resonate throughout the equipment rental industry, impacting both financial strategies and operational practices. The firm’s proactive approach in securing the necessary consents underscores its commitment to supporting clients through challenging financial landscapes, thereby fostering sustainable business practices in the long term.