By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, March 27 – Penske Truck Leasing Co., LP and PTL Finance Corp. priced $750 million of 5.55% five-year notes at a spread of 205 basis points over Treasuries on Monday, according to a market source.
Initial price talk was in the Treasuries plus 225 bps area.
BofA Securities Inc., J.P. Morgan Securities LLC, Mizuho Securities USA Inc., Santander US Capital Markets LLC and Wells Fargo Securities LLC led the deal.
The truck leasing company is based in Reading, Pa.
| Issuer: | Penske Truck Leasing Co., LP/PTL Finance Corp.
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| Amount: | $750 million
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| Issue: | Notes
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| Maturity: | May 1, 2028
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| Bookrunners: | BofA Securities Inc., J.P. Morgan Securities LLC, Mizuho Securities USA Inc., Santander US Capital Markets LLC and Wells Fargo Securities LLC
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| Coupon: | 5.55%
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| Spread: | Treasuries plus 205 bps
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| Trade date: | March 27
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| Price guidance: | Treasuries plus 225 bps area
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