Simpson Thacher represented the initial purchasers in connection with the offering by Element Fleet Management Corp. (“Element Fleet”) of US$750 million aggregate principal amount of 5.643% Senior Notes due 2027, 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 with approximately 1.5 million client vehicles under management and operations in the U.S., Canada, Mexico and Australia and New Zealand.
The Simpson Thacher team included David Azarkh, Benjamin Heriaud, Kaitlyn Posa and Nate Yang (Capital Markets); Jonathan Cantor and Kris Liu (Tax); Pasco Struhs and Sara Mazurek (ECEB); Alysha Sekhon (IP); Michael Isby (Environmental); Laurel Fresquez (Regulatory); and Jennie Getsin (Blue Sky).