Ritchie Bros. Auctioneers Incorporated, a global asset management and disposition company, has announced that it has priced its previously announced offering of (a) US$550 million aggregate principal amount of 6.750% senior secured notes due March 15, 2028 and (b) US$800 million aggregate principal amount of 7.750% senior notes due March 15, 2031 (collectively, the Notes) to be issued by Ritchie Bros. Holdings Inc., a Washington corporation and wholly-owned subsidiary of Ritchie Bros., with each series of notes to be issued at par. Ritchie Bros. intends to use the net proceeds from the offering of the Notes, together with proceeds from its term loan A facility and cash from its balance sheet, to partially fund the cash portion of the consideration payable in the previously announced merger with IAA, Inc. and its subsidiaries.

Latham & Watkins LLP is representing the initial purchasers in the offering with a capital markets team led by New York partners Senet Bischoff and Erika Weinberg, with associates Hana Nah, Egzon Sulejmani, Adam Weber, and Isabelle Sawhney. Advice was also provided on banking matters by New York partner Alfred Xue and New York counsel Seung-Ju Paik, with associate Christian DeSimone; on tax matters by Jiyeon Lee-Lim and Bora Bozkurt, with associate Aaron Bernstein; on benefits & compensation matters by New York partner Bradd Williamson, with associate Madeline Hong; on sanctions, anti-bribery, and anti-corruption matters by New York partner Matthew Salerno and Washington, D.C. counsel Andrew Galdes, with associates Ragad Alfaraidy and Julie Shin; on environmental matters by New York counsel David Langer, with associate Brittany Curcuru; and on data privacy and cybersecurity matters by Washington, D.C. partner Jennifer Archie and London partner Fiona Maclean, with associates Adriana Beach and Victoria Wan.