Published on 6/21/2023 in the Prospect News Canadian Bonds Daily and Prospect News Investment Grade Daily.
New Issue: Element Fleet sells $750 million 6.271% senior notes due 2026
By Wendy Van Sickle
Columbus, Ohio, June 21 – Element Fleet Management Corp. sold a $750 million offering of 6.271% three-year senior notes (BBB+/BBB) on Wednesday, according to a press release.
The Rule 144A and Regulation S offering will be used for working capital and general corporate purposes.
Element Fleet Management is a Toronto-based fleet management and equipment finance company.
| Issuer: | Element Fleet Management Corp.
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| Amount: | $750 million
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| Issue: | Senior notes
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| Maturity: | June 26, 2026
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| Coupon: | 6.271%
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| Trade date: | June 21
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| Settlement date: | June 26
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| Ratings: | S&P: BBB+
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| Fitch: BBB
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| Distribution: | Rule 144A and Regulation S
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