Road and Rail
Company Overview of Penske Truck Leasing Co., L.P.
Penske Truck Leasing Co., L.P. provides commercial and consumer truck rental, full-service leasing, contract maintenance, transportation and warehousing management, and supply chain management solutions for individuals, small companies, and multinational organizations. It offers contract carriage, and warehousing and distribution center management services; trucks and equipment leasing services; specialized equipment rental services for construction, transit, municipalities, and utilities; and used vans, trucks, trailers, tractors, specialty equipment, and other vehicles for sale. The company provides over-the-road tractors, straight trucks, light duty vans, and trailers; utility vehicles fr...
Route 10 Green Hills
Reading, PA 19603
Founded in 1969
Key Executives for Penske Truck Leasing Co., L.P.
Chief Executive Officer and President
President of Penske Logistics
Senior Vice President of Operations for Eastern Region-Penske Logistics
Senior Vice President of North Central Region
Senior Vice President of Finance-Logistics
Compensation as of Fiscal Year 2012.
Penske Truck Leasing Co., L.P. Key Developments
Penske Truck Leasing Installs Truck-Lite LED Headlights
Feb 8 13
Penske Truck Leasing announced that it is retrofitting 5,000 of its 2012 and 2013 model semi tractors in its commercial truck rental fleet with new LED headlights from Truck-Lite. It is the first and only commercial rental operation to offer this new headlamp. The retrofitting will take place over the next 12 months, and Penske is making the new LED lights part of its core standard specs going forward. The Truck-Lite LED headlamps were initially developed for military use. Truck-Lite’s LED forward lighting headlamps offer improved driver visibility through its more natural light spectrum, leading to improved object recognition at night. Truck-Lite’s LED beam pattern also reduces eye-strain for drivers and reduces harsh headlight glare to oncoming traffic. An additional benefit is a significant reduction in amperage draw on the vehicle’s electrical system, freeing up power for other uses and resulting in a 50-times longer lighting system life than conventional halogen technology.
Penske Truck Leasing Co., L.P. Completes $450 Million Asset-Backed Bank Conduit Facility
Oct 11 12
Penske Truck Leasing Co., L.P. announced that it completed an initial asset-backed bank conduit facility with a group of six banks for approximately $450 million. On Oct. 5, 2012, the company announced the available capacity of the facility is $750 million. The company expects to use the net proceeds to repay borrowings on its credit facility from General Electric Capital Corp.
Penske Truck Leasing and PTL Finance Corporation Issue $1.5 Billion in Senior Notes
Sep 27 12
Penske Truck Leasing Co., L.P. and PTL Finance Corporation announced they have issued an aggregate of $1.5 billion of senior notes in two tranches with 3.5 year and 5.5 year maturities at rates of 2.50% and 3.375%, respectively. Net proceeds of the offering will be used to repay borrowings on PTL's bank revolver and its credit facility from General Electric Capital Corporation (GECC). This is the third successful offering PTL has completed in 2012. The current offering was managed by Bank of America Merrill Lynch, J.P. Morgan and Wells Fargo Securities. These senior notes have not been registered under the Securities Act of 1933, as amended, or any state or foreign securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and state securities laws. The notes are eligible for resale by the initial purchasers thereof pursuant to Rule 144A and Regulation S under the Securities Act. This is neither an offer to sell nor a solicitation of an offer to purchase any securities. Any offer of the notes will be made only by means of a private offering memorandum.
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