4 unchanged sentences
Interest Rate Risk
−Removed: We are primarily exposed to interest rate risk through our ABL Facility, which bears interest at variable rates based on LIBOR.
−Removed: We had $1.6 billion in outstanding principal under the ABL Facility at September 30, 2021.
−Removed: In order to manage this risk, on November 6, 2018, WSII entered into an interest rate swap agreement that effectively converts $400.0 million in aggregate notional amount of variable-rate debt under our ABL Facility into fixed-rate debt.
−Removed: The swap agreement provides for WillScot Mobile Mini to pay a fixed rate of 3.06% per annum on the outstanding debt in exchange for receiving a variable interest rate based on 1-month LIBOR.
+Added: We are primarily exposed to interest rate risk through our ABL Facility, which bears interest at variable rates.
+Added: We had $1.7 billion in outstanding principal under the ABL Facility at March 31, 2022.
+Added: In order to manage this risk, we maintain an interest rate swap agreement that effectively converts $400.0 million in aggregate notional amount of variable-rate debt under our ABL Facility into fixed-rate debt.
+Added: The swap agreement provides for us to pay a fixed rate of 3.06% per annum on the outstanding debt in exchange for receiving a variable interest rate based on 1-month LIBOR.
The effect is a synthetically fixed rate of 5.19% on the $400.0 million notional amount, when including the current applicable margin.
2 unchanged sentences
We currently generate the majority of our consolidated net revenues in the US, and the reporting currency for our consolidated financial statements is the US dollar.
−Removed: However, we are exposed to currency risk principally through our operations in Canada and the United Kingdom.
+Added: However, we are exposed to currency risk principally through our operations in Canada, Mexico, and the United Kingdom.
For the operations outside the US we bill customers primarily in their local currency, which is subject to foreign currency rate changes.
6 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.