Penske Truck Leasing Issues CDN$375 Million in Senior Notes

Penske Truck Leasing HQPenske 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. [Read more…]