The Official Blog of Penske Transportation Solutions

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 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 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, Co., L.P. (PTL) Completes $1.7 Billion Debt and Equity Transactions

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