Penske Truck Leasing Canada Completes Note Offering

Penske Truck Leasing Canada Inc. (the “Issuer”), a wholly owned subsidiary of Penske Truck Leasing Co., L.P. (“Penske”) completed a private placement offering of $375 million aggregate principal amount of 3.65 per cent Senior Notes (the “Notes”) due February 1, 2018. The Notes were unconditionally guaranteed as to principal and interest by Penske. The offering was underwritten by RBC Dominion Securities Inc. and Scotia Capital Inc. (the “Underwriters”).

Penske is a joint venture of Penske Corporation, Penske Automotive Group and General Electric Capital Corporation. Penske is a leading global transportation service provider, which operates more than 200,000 vehicles and serves customers from more than 1,000 locations in North America, South America, Europe and Asia.

The Issuer and Penske were represented in-house by David Battisti, Vice-President and Assistant General Counsel, and was assisted in Canada by Goodmans LLP with a team that included Neil Sheehy, Gesta Abols and Stacey Kline (securities); Mark Surchin and Sondra Rebenchuk (finance) and Maureen Berry (tax); and in the United States by Drinker Biddle & Reath LLP with a team that included Douglas Raymond and Matthew Meyers (securities); Eirik Tellefsen (finance) and Stephen Hamilton (tax).

The Underwriters were represented in Canada by McCarthy Tétrault LLP with a team that included Shea Small, Jo-Anna Brimmer, Matthew Appleby (securities) and Nigel Johnston and Gabrielle Richards (tax); and in the United States by Davis Polk & Wardwell LLP with a team that included John Crowley and Ryan Mitteness and Novika Ishar (capital markets) and Samuel Dimon and Patrick Sigmon (tax).



Goodmans LLP Drinker Biddle & Reath LLP McCarthy Tétrault LLP Davis Polk & Wardwell