Element Fleet Management announces $650 million senior notes offering

Element Fleet Management Corp. announced it will sell $650 million in Senior Notes. These notes have a 5.037% interest rate and will be due in 2030. The company specializes in managing automotive fleets and is the largest public company in this field. The notes will not be registered under U.S. securities laws. They are being sold privately and will mature on March 25, 2030. The funds raised will be used for working capital, which may include paying off existing debt. The offering is expected to close on March 25, 2025, pending normal closing conditions. The notes are only available to certain institutional investors and foreign buyers. Element Fleet Management provides a range of services to enhance fleet performance, including vehicle maintenance and integration of electric vehicles.