Penske News

Penske Truck Leasing Issues CDN$375 Million in Senior Notes

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.

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Penske Truck Rental Joins “TODAY Show” Sandy Relief Effort

Yesterday, NBC News' “TODAY show” announced“TODAY Gives Hope,” a new ongoing initiative to help bring relief to communities in need. (Watch the TODAY T.V. segment here.) Through this long-term project, the TODAY show will leverage its strength in news coverage, cross-platform promotion, and partnerships to inspire viewers to bring hope back to communities that need it most. When areas across the nation face challenging times, “TODAY Gives Hope” will be prepared to take action and help.

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Penske Announces 2012-2013 National Technical Challenge Results

Penske Truck Leasing has announced the winners of its 2012-2013 National Technical Challenge. The Tech Challenge is a company event that will be held every other year to test the skillsets of its truck maintenance technician workforce via hands-on and written assessments. There were two types of entries: a two-person vehicle systems team and individual competitors in the preventive maintenance (PM) event.

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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.

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Penske Truck Rental Top 10 Moving Destinations for 2012

It is time once again forPenske Truck Rental’s yearly list of top moving destinations within the United States. This is the third straight year the Reading, Pa.,-based company has released the list.

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PenskeUsedTrucks.com Rolls Out Improvements

A retooled version ofPenskeUsedTrucks.com has been introduced. Visitors can now enjoy a more customizable and intuitive online shopping experience with faster access to Penske’s inventory of light-, medium-, and heavy-duty trucks and used trailers.

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Penske National Technical Challenge Region Winners Announced

Penske Truck Leasing has named its 15 finalists for the 2012-2013 National Technical Challenge, an in-house competition for its truck maintenance technician workforce.

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Penske Installing Truck-Lite LED headlights on 5,000 Rental Semi-Trucks

Penske Truck Leasing is retrofitting 5,000 of its 2012 and 2013 semi-tractors currently within its commercial truck rental fleet with new, cutting-edge LED headlights from Truck-Lite. Penske is the first and only commercial truck rental operation to currently offer thisinnovative headlamp option within its fleet.

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Penske Logistics Driver Named America’s Road Team Finalist

Penske Logistics driver Neil Kirk is among the 32 truck drivers recently named as finalists in the selection process to become Captains for American Trucking Assocations’ 2012-2013 America’s Road Team. This group of professional truck drivers share superior driving skills and safety records, and help spread the word about safety on the highway.

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Penske Truck Leasing closes $450 million asset-backed securitization

Penske Truck Leasing Co., L.P. (“PTL”) today announced that it completed an initial asset-backed bank conduit facility with a group of six banks for approximately $450 million. The available capacity of the facility is $750 million. PTL expects to use the net proceeds to repay borrowings on its credit facility from General Electric Capital Corporation (GECC).

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Penske Truck Leasing Issues $1.5 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 $1.5 billion of senior notes in two tranches with 3.5 year and 5.5 year maturities at rates of 2.50 percent and 3.375 percent, respectively. 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 third successful offering PTL has completed in 2012. The current offering was managed by Bank of America Merrill Lynch, J.P. Morgan and Wells Fargo Securities.

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Space Shuttle Endeavour Flys Over Penske Truck Leasing Location

Earlier today, the space shuttleEndeavour made its final flight after 30 years of service. Penske associate Brandon Wade captured this incredible image as the shuttle passed over the company's location in Carson, Calif.

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Driven to Excellence behind the Wheel

In recognition of this week’s National Truck Driver Appreciation Week, Penske Logistics acknowledges its six drivers who were nominated for Truck Renting and Leasing Association’s (TRALA) 2012 Driver of the Year Award earlier this year.

TRALA presents this award annually to a driver who demonstrates excellence in driving and safety standards throughout his/her professional driving career.

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