Simpson Thacher represented the initial purchasers in connection with the offering by Element Fleet Management Corp. (“Element Fleet”) of US$500 million aggregate principal amount of 4.641% Senior Notes due 2030, pursuant to Rule 144A and Regulation S.
Element Fleet intends to use the net proceeds from the offering for working capital and general corporate purposes, which may include the repayment of existing indebtedness.
Element Fleet is the largest publicly traded pure-play automotive fleet manager in the world, delivering value through scalable, sustainable, and technology-enabled fleet and mobility solutions across North America, Australia, New Zealand and Ireland.
The Simpson Thacher team included David Azarkh, Patrick Baron, Anthony Kuan and Delia Li (Capital Markets); Jonathan Cantor and Heesang Yeo (Tax); Pasco Struhs and Sara Mazurek (ECEB); Alysha Sekhon (IP); Michael Isby (Environmental); and Jennie Getsin (Blue Sky).