Element Fleet Management Completes $670 Million ABS Note Offering
The Toronto-based company completed its inaugural equity residual transaction involving U.S. fleet lease receivables
Element Fleet Management Corp. has completed its inaugural equity residual transaction, which includes a $670 million asset-backed security note offering and the sale of corresponding equity residuals. According to the Toronto-based company, the transaction involves a portfolio of U.S. fleet lease receivables and is aimed at expanding its strategic funding capabilities.[1][2]
Trading on the Toronto Stock Exchange under the symbol EFN, Element Fleet Management Corp. operates as the largest publicly traded pure play automotive fleet manager in the world. The company also positions itself as a global leader in intelligent fleet and mobility solutions.[1][2]
