Penske Truck Leasing talks $500 million five-year notes to yield Treasuries plus 120 bps area

By Cristal Cody

Tupelo, Miss., Oct. 19 – Penske Truck Leasing Co., LP intends to price $500 million of senior notes due Nov. 15, 2025 on Monday, according to a market source.

The notes (Baa2/BBB/BBB+) are talked to print at the Treasuries plus 120 basis points area.

BofA Securities, Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC, MUFG and Wells Fargo Securities LLC are the bookrunners.

The global transportation services provider is based in Reading, Pa.

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