By Cristal Cody
Tupelo, Miss., June 10 – Penske Truck Leasing Canada Inc. sold C$125 million of 2.95% five-year senior notes at 99.968 to yield 2.957%, according to a market source.
The notes (Baa3/BBB-/BBB+) priced at a spread of 182 basis points over the interpolated Government of Canada bond curve.
RBC Dominion Securities Inc. and Scotia Capital Inc. were the bookrunners.
Penske Truck Leasing Canada is a subsidiary of Reading, Pa.-based transportation services provider Penske Truck Leasing Co., LP.
Issuer: | Penske Truck Leasing Canada Inc.
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Amount: | C$125 million
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Maturity: | June 12, 2020
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Securities: | Senior notes
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Bookrunners: | RBC Dominion Securities Inc. and Scotia Capital Inc.
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Coupon: | 2.95%
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Price: | 99.968
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Yield: | 2.957%
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Spread: | 182 bps interpolated Government of Canada bond curve
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Pricing date: | June 9
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Settlement date: | June 12
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Ratings: | Moody’s: Baa3
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| Standard & Poor’s: BBB-
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| Fitch: BBB+
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Distribution: | Canada
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