Penske Truck Leasing Co Lp, founded in 1969 and headquartered in Reading, Pennsylvania, is a leading provider of transportation services in North America, offering comprehensive truck leasing solutions. The company specializes in full-service leasing, rental, logistics, and maintenance services for a diverse range of vehicles, catering to various industry needs.
Company overview and issue history are AI generated, and should not be cited or relied on without verification.
Penske Truck Leasing has been actively issuing bonds since the early 2000s, with notable issuances including a $500 million bond in 2017 that was used to refinance existing debt and support fleet expansion. As of 2023, the company's bonds have yielded approximately 4.5%, in line with industry averages, reflecting strong demand and stability. A key feature of their recent bonds includes flexibility in call provisions, allowing for the potential to call bonds after five years, depending on market conditions and corporate strategy, signaling Penske's commitment to maintaining a robust financial profile amidst competitive pressures.