The Official Blog for Penske Truck Leasing, Truck Rental and Logistics

The entire Penske organization congratulates Roger S. Penske on receiving the Presidential Medal of Freedom.

Mr. Penske received the award from President Donald J. Trump during a ceremony held yesterday in the Oval Office.

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Penske Truck Leasing, Co., L.P. (PTL) is pleased to announce that Penske Automotive Group, Inc. (PAG) and Mitsui & Co., Ltd. (Mitsui) have both increased their ownership positions in PTL.

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Penske Truck Leasing today opened a state-of-the-art transportation facility in Mobile, Alabama, within the Mobile Aeroplex at Brookley, an industrial complex adjacent to Mobile Downtown Airport. The grand opening was a star-studded event.

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Today, Penske Automotive Group announced that it acquired an additional 14.4% interest in Penske Truck Leasing, Co., L.P. from GE Capital. Following the transaction, which was completed yesterday, Penske Automotive Group now holds a 23.4% ownership interest in Penske Truck Leasing.

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Roger S. Penske

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Penske Truck Leasing Co., L.P. (“PTL”) today announced that Tokyo-based Mitsui & Co., Ltd. (“Mitsui”) has acquired a 20.0% limited partnership interest in PTL from General Electric Capital Corporation (“GECC”). Following Mitsui’s investment, GECC will continue to own a 29.9% limited partnership interest. The transaction will not have any impact on Penske Corporation’s management and control of the company as it will continue to own a 50.1% interest in PTL and control the General Partner.

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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 $1.5 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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Penske Truck Leasing Co., L.P. (“PTL”) and its wholly owned subsidiary PTL Finance Corporation announced they have issued an aggregate of $1.1 billion of two-year and 10-year senior notes. The first series matures in 2014 and the second in 2022. The net proceeds from the sale of these notes will be used to refinance existing PTL debt.

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Penske Truck Leasing Co., L.P. (“PTL”) and its wholly owned subsidiary PTL Finance Corporation today announced that they have issued an aggregate of $1.75 billion in senior notes in two equally sized tranches of notes with three- and five-year maturities. The net proceeds from the sale of the notes will be used to refinance existing PTL debt. The offering was managed by J.P. Morgan, Bank of America Merrill Lynch and Wells Fargo Securities.

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

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