Simpson Thacher represented the initial purchasers, led by BofA Securities, Inc. and CIBC World Markets Corp., in connection with the Senior Notes offering by Element Fleet Management Corp. (TSX: EFN) (“Element”) of US$500 million aggregate principal amount of 1.6% Senior Notes due 2024, pursuant to Rule 144A and Regulation S.
Element intends to use the net proceeds from the offering for working capital and general corporate purposes.
Element is a leading global fleet management company, providing best-in-class services and financing solutions for commercial vehicle fleets.
The Simpson Thacher team included David Azarkh, Arielle Trapp and Lorin Hom (Capital Markets); Jonathan Cantor and Suzy Yaster (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Genevieve Dorment and Alysha Sekhon (Intellectual Property); Michael Isby (Environmental); Abram Ellis and Laurel Fresquez (Regulatory); and Jennie Getsin (Blue Sky).