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Penske Truck, PTL Finance set talk for notes due 2016, 2018
By Andrea Heisinger
New York, Sept. 24 - Penske Truck Leasing and PTL Finance Corp. are pricing an offering of notes (Baa3/BBB-/) in tranches due 2016 and 2018, an informed source said on Monday.
Price talk on the notes due 2016 is in the Treasuries plus 240 basis points area, plus or minus 3 bps, while the notes due 2018 had guidance in the Treasuries plus 287.5 bps area, the source said.
The notes will be priced under Rule 144A and Regulation S without registration rights.
Bookrunners are Bank of America Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities LLC.
The global transportation services provider is based in Reading, Pa.
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