ΜΗΠΔ΄«Γ½

The Official Blog of ΜΗΠΔ΄«Γ½ Transportation Solutions

penske automotive group

Transportation Industry Leaders

is a partnership of ΜΗΠΔ΄«Γ½ Corporation, ΜΗΠΔ΄«Γ½ Automotive Group and Mitsui & Co., Ltd. A leading global transportation services provider, ΜΗΠΔ΄«Γ½ operates more than 439,300 vehicles and serves customers from nearly 1,480 locations. Our product lines include full-service leasing and contract maintenance. Our service, which is widely recognized for its iconic yellow trucks with blue stripes, provides both commercial truck rentals and consumer truck rentals in North America.

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, Co., L.P. (PTL) is pleased to announce that ΜΗΠΔ΄«Γ½ Automotive Group, Inc. (PAG) and Mitsui & Co., Ltd. (Mitsui) have both increased their ownership positions in PTL.

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Today, ΜΗΠΔ΄«Γ½ Automotive Group announced that it acquired an additional 14.4% interest in , Co., L.P. from GE Capital. Following the transaction, which was completed yesterday, ΜΗΠΔ΄«Γ½ Automotive Group now holds a 23.4% ownership interest in .

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Roger ΜΗΠΔ΄«Γ½, Founder and Chairman of , was recently inducted into along with automaker Elwood Haynes, former Ferrari Chairman Luca di Montezemolo, and industrialist Ratan N. Tata.

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(β€œΜΗΠΔ΄«Γ½β€) has opened a new truck rental and full-service truck leasing office in Melbourne, Australia, located at 488 Blackshaws Road, Altona North, Victoria 3025. The hours are Monday through Friday 8 a.m. to 5 p.m. and Saturdays from 8 a.m. to noon. For truck rental and leasing information call 1-300-GO-PENSKE or visit. The new office is co-located within the ΜΗΠΔ΄«Γ½ Power Systems facility (formerly MTU Detroit Diesel), a subsidiary of ΜΗΠΔ΄«Γ½ Automotive Group, Inc.

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ΜΗΠΔ΄«Γ½ Commercial Vehicles, based in Brisbane, Australia, has announced a new venture with to offer commercial truck rental services in Australia. The venture, ΜΗΠΔ΄«Γ½ Commercial Leasing Australia, will operate under the brand name ΜΗΠΔ΄«Γ½ Truck Rental.

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Co., L.P. (β€œPTL”) 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).

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Co., L.P. (β€œPTL”) and its wholly owned subsidiary 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 percent and 3.375 percent, 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.

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