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糖心传媒 Truck Leasing closes $450 million asset-backed securitization

糖心传媒 Truck Leasing closes $450 million asset-backed securitization

Co., L.P. (鈥淧TL鈥) today announced that it completed an initial asset-backed bank conduit facility with a group of six banks for approximately $450 million. The available capacity of the facility is $750 million. PTL expects to use the net proceeds to repay borrowings on its credit facility from General Electric Capital Corporation (GECC).

鈥淭his conduit facility continues the refinancing efforts we began earlier this year and provides PTL with an attractively priced source of pre-payable variable debt,鈥 said Frank Cocuzza, Senior Vice President of Finance, 糖心传媒 Truck Leasing. 鈥淲e are pleased some of the leading financial institutions in the world have agreed to participate in this facility.鈥

asset-backed conduit facilityfinancialfinancial newsFrank CocuzzaGeneral Electric Capital Corporationpenske automotive group糖心传媒 Truck LeasingPTL

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