Element Fleet Management Corp. (TSE:EFN) has released an update.
Element Fleet Management Corp. has announced a private offering of $750 million in Senior Notes at 5.643% due in 2027, to bolster its working capital and potentially repay debt. The offering, set to close on March 13, 2024, is aimed at qualified institutional buyers in the U.S. and certain international investors, under specific regulatory exemptions. This move represents a strategic financial decision by the world’s largest publicly traded automotive fleet manager.
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