Element Fleet Management’s $500 Million Senior Notes Offering

Cravath represented Element Fleet Management, while Simpson Thacher represented the initial purchasers in the offering.

Element Fleet Management Corp. (TSX: EFN) executed its Senior Notes offering of US$500 million aggregate principal amount of 1.6% Senior Notes due 2024, pursuant to Rule 144A and Regulation S.

Element intends to use the net proceeds from the offering for working capital and general corporate purposes.

Element is a leading global fleet management company, providing best-in-class services and financing solutions for commercial vehicle fleets.

The Simpson Thacher team representing the initial purchasers, led by BofA Securities, Inc. and CIBC World Markets Corp., included David Azarkh (Picture), Arielle Trapp and Lorin Hom (Capital Markets); Jonathan Cantor and Suzy Yaster (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Genevieve Dorment and Alysha Sekhon (Intellectual Property); Michael Isby (Environmental); Abram Ellis and Laurel Fresquez (Regulatory); and Jennie Getsin (Blue Sky).

Cravath represented Element Fleet Management with partner Joseph D. Zavaglia and associates Benjamin G. Joseloff and Nicholas A. DiStefano on capital markets matters, partner Kara L. Mungovan and associate Leon B. Dalezman on tax matters, and associate David Crampton on executive compensation and benefits matters. Alissa B. Fromkin also worked on tax matters.

Involved fees earner: David Crampton – Cravath Swaine & Moore; Leon Dalezman – Cravath Swaine & Moore; Nicholas DiStefano – Cravath Swaine & Moore; Alissa Fromkin – Cravath Swaine & Moore; Benjamin Joseloff – Cravath Swaine & Moore; Kara Mungovan – Cravath Swaine & Moore; Joseph Zavaglia – Cravath Swaine & Moore; David Azarkh – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Abram Ellis – Simpson Thacher & Bartlett; Laurel Fresquez – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Lorin Hom – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Alysha Sekhon – Simpson Thacher & Bartlett; Arielle Trapp – Simpson Thacher & Bartlett; Susan Yaster – Simpson Thacher & Bartlett;

Law Firms: Cravath Swaine & Moore; Simpson Thacher & Bartlett;

Clients: Bank of America Securities; CIBC World Markets; Element Fleet Management;

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Martina Bellini

Author: Martina Bellini