Penske Truck Leasing executive Paul Rosa is participating in a Reading, Pa., area campaign for theOlivet Boys & Girls Club. Rosa, the company’s vice president of vehicle supply and planning, is one of a dozen local candidates vying to raise money for the non-profit’s Kiss-A-Pig contest.
The recent run-up in fuel prices for gasoline and diesel has commercial truck fleet managers and operators once again re-evaluating their fuel strategies and options. Last week, the Department of Energy reported diesel rose 5.3 cents to $4.157 a gallon -- its fifth straight increase. This is highest price for diesel in about four-and-a-half years. Gasoline also rose significantly with nine consecutive increases and it has reached a high unseen since last October at $3.747. In periods like this it’s a good idea to focus on fundamentals when you are operating a fleet of trucks or even just one truck.
Penske Truck Leasing Canada Inc. (“PTL Canada”), a wholly-owned subsidiary Penske Truck Leasing Co., L.P. (“PTL”) announced it has issued CDN$375 million of senior notes with a 5 year maturity at a rate of 3.65%. The series matures in 2018. The notes are guaranteed by PTL and the net proceeds of the offering will be used to repay Canadian denominated borrowings on PTL's credit facility from General Electric Capital Corporation (“GECC”) and for general corporate purposes.