Penske Truck Leasing Issues $1.0 Billion in Senior Notes
Penske Truck Leasing Co., L.P. (“PTL”) and its wholly owned subsidiary PTL Finance Corporation announced they have issued an aggregate of $1.0 billion of senior notes in two tranches with 5.5 year and 10 year maturities at rates of 2.875% percent and 4.25 percent, respectively. The first series matures in 2018 and the second in 2023. The net proceeds of the offering will be used to repay borrowings on PTL's bank revolver and its credit facility from General Electric Capital Corporation (GECC). This is the fourth successful offering PTL has completed since May, 2012. The current offering was managed by Bank of America Merrill Lynch, J.P. Morgan and Wells Fargo Securities.
These senior notes have not been registered under the Securities Act of 1933, as amended, or any state or foreign securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and state securities laws. The notes are eligible for resale by the initial purchasers thereof pursuant to Rule 144A and Regulation S under the Securities Act. This is neither an offer to sell nor a solicitation of an offer to purchase any securities. Any offer of the notes will be made only by means of a private offering memorandum.
By Randy Ryerson
James Guy (photo right) joined the company in June 2011 and it didn't take long to make a name for himself and his mechanical skills.
Lanessa Franco (photo right), like Bilbruck a branch service manager, also comes from a non-traditional fleet maintenance background. She has worked for Penske Truck Leasing locations in California and Arizona.
In recognition of this week’s National Truck Driver Appreciation Week, 
Why are you proud to be a truck driver?
ATA is encouraging drivers and carriers to invite the local media, elected officials or community leaders to tour their terminals or get up in the cab and ride along with a professional driver during the week. It’s a great way to educate people about the essentials of the trucking industry as well as tout the impressive safety record of the drivers behind the wheel.