WillScot Holdings Corporation filed a Form 8-K on November 9, 2026, disclosing that its subsidiary Williams Scotsman, Inc. entered into two forward-starting interest rate swap agreements on November 6, 2026, covering an aggregate notional amount of $300 million in variable-rate debt under its ABL Facility.

Key Highlights

  • Two swaps totaling $300 million notional: Williams Scotsman, Inc. executed separate agreements with MUFG Bank, Ltd. ($200 million) and Capital One, N.A. ($100 million) on November 6, 2026.
  • Fixed rates set near 4.345%: The MUFG swap fixes WSI's pay rate at 4.3451%; the Capital One swap fixes it at 4.3450%, with both receiving one-month term SOFR.
  • Effective date of June 30, 2027: Both swap agreements are forward-starting and become effective June 30, 2027.
  • Maturity date of June 30, 2030: Both agreements mature on June 30, 2030.
  • Underlying facility: The swaps relate to variable-rate debt under the ABL Facility, originally dated July 1, 2020 and most recently amended via a seventh amendment dated October 16, 2025.
  • Hedge designation: According to the filing, "the swap agreements were designated and qualified as hedges of the Company's exposure to changes in interest payment cash flows created by fluctuations in variable interest rates on the ABL Facility."

WillScot Holdings Locks In Fixed Rates on $300 Million of ABL Variable-Rate Debt

According to the Form 8-K filed with the SEC on November 9, 2026, WillScot Holdings Corporation (NASDAQ:WSC), through its subsidiary Williams Scotsman, Inc., entered into two interest rate swap agreements on November 6, 2026. The agreements are described as forward-starting, meaning they do not take effect until June 30, 2027, and are structured against variable-rate borrowings under the company's ABL Credit Agreement.

The filing discloses that the first swap was executed with MUFG Bank, Ltd. and carries a notional amount of $200 million. Under that agreement, WSI will pay a fixed rate of 4.3451% and receive a variable rate equal to one-month term SOFR. The second swap, executed with Capital One, N.A., covers a notional amount of $100 million, with WSI paying 4.3450% and receiving the same one-month term SOFR benchmark. Both swaps share the same effective date of June 30, 2027, and the same maturity date of June 30, 2030.

The ABL Facility underlying these hedges was originally dated July 1, 2020 and has been amended through a seventh amendment dated October 16, 2025, with Bank of America, N.A. serving as administrative agent, collateral agent, and swingline lender, the filing noted. The company's Chief Legal Officer, S. Gary Shullaw, signed the report on behalf of WillScot Holdings Corporation.

What Was Disclosed

WillScot Holdings Corporation disclosed that subsidiary Williams Scotsman, Inc. entered into two forward-starting interest rate swap agreements on November 6, 2026, covering $300 million in aggregate notional amount of variable-rate ABL Facility debt, effective June 30, 2027, and maturing June 30, 2030.