Our expectations underscore our confidence in the attractiveness of our fleet lease receivables to syndication investors irrespective of broader market movements. and Canada and expect to syndicate between $3 and $4 billion of volume in 2023. Off balance sheet, we continue to enjoy robust demand for our assets from syndication investors in the U.S. fleet ABS market’s reception to our term note offering, as well as our lending syndicate partners’ appetite to expand their funding capacity commitments to Element. “As always, Element maintains ready access to ample cost-effective capital for our clients from a diversified roster of lenders and investors across funding sources,” Frank Ruperto, executive vice president and CFO of Element, said. variable funding notes (vehicle management asset-backed debt) through March 2024 and expanded the facility by $500 million. In March, Element also extended its secondary multi-currency senior unsecured revolving credit and expanded its capacity by $100 million.Īs previously reported, in Q4/22, Element renewed its U.S. In January, Element also renewed its primary multi-currency senior unsecured revolving credit facility and expanded the line by $500 million in the process. fleet lease receivable assets, including $371 million in the last two weeks of March. The offering was Element’s first of the year and greeted by investor demand that allowed the company to increase the offering size from $500 million while improving pricing.Įlement also advanced its business model in Q1/23 by syndicating $690 million of U.S. Anneaux de reliure pour carnet de notes, mcanisme de reliure ample, peignes de colonne vertbrale, Inserts de bricolage, classeur A6 peigne planificateur. Element Fleet Management issued $750 million of vehicle management asset-backed term notes to a selection of institutional investors.
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