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Element Fleet Management closes issuance of $1B rated term notes

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Element Fleet Management closes issuance of $1B rated term notes

Element Fleet Management Corp. closed the issuance of $1.0 billion of rated term notes through Chesapeake Funding II LLC.

The offering marked the second Chesapeake II issuance of 2017, bringing total issuance for the year to about $2.2 billion. Element Fleet Management has doubled the initial launch size of the offering amid strong demand for the notes, the company said in a press release.

RBC Capital Markets, Barclays, BNP Paribas and CIBC Capital Markets acted as joint book runners for the term note transaction. HSBC and TD Securities served as co-managers.