Penske Truck Leasing Issues $1.0 Billion in Senior Notes
READING, Pa., Jan. 17, 2013
READING, Pa., Jan. 17, 2013 /PRNewswire/ --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
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.
These senior notes have not been registered under the Securities Act of 1933,
as amended, or any state or foreign securities laws, and may not be offered or
sold in the United States absent registration or an applicable exemption from
the registration requirements of the Securities Act and state securities laws.
The notes are eligible for resale by the initial purchasers thereof pursuant
to Rule 144A and Regulation S under the Securities Act. This is neither an
offer to sell nor a solicitation of an offer to purchase any securities. Any
offer of the notes will be made only by means of a private offering
Penske Truck Leasing Co., L.P., headquartered in Reading, Pa., is a joint
venture of Penske Corporation, Penske Automotive Group and General Electric
Capital Corporation. A leading global transportation services provider, PTL
operates more than 200,000 vehicles and serves customers from more than 1,000
locations in North America, South America, Europe and Asia. Product lines
include full-service truck leasing, contract maintenance, commercial and
consumer truck rentals, used truck sales, transportation and warehousing
management and supply chain management solutions. To learn more about PTL's
products and services please visit www.GoPenske.com and our "Move Ahead" blog.
SOURCE Penske Truck Leasing
Contact: Randy Ryerson, +1-610-775-6408, Randolph.firstname.lastname@example.org
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