Simpson Thacher represented the initial purchasers, led by BofA Securities, Inc., BMO Capital Markets Corp., and CIBC World Markets Corp., in connection with the offering by Element Fleet Management Corp. (“Element Fleet”) of US$750 million aggregate principal amount of 6.271% Senior Notes due 2026, 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.
Element Fleet is the largest publicly traded pure-play automotive fleet manager in the world with approximately 1.5 million 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, Patrick Meson, and Audrey Ortiz (Capital Markets); Jonathan Cantor, Kris Liu, and Ruoxi Zhang (Tax); Pasco Struhs and Sara Mazurek (ECEB); Alysha Sekhon (IP); Michael Isby (Environmental); Abram Ellis and Laurel Fresquez (Regulatory); and Jennie Getsin (Blue Sky).