Report: Element Fleet Management Doubles Size of ABS

According to a Nasdaq report, citing data from the International Financing Review, Element Fleet Management’s most recent ABS issue reached $1 billion, which effectively doubled its size.

According to IFR, Element was also able to bring the pricing to 35 BPs inside its prior trade over interpolated swaps.

Roughly 275,000 leases for cars, trucks and equipment were part of the new deal, which has a book value of $5.58 billion, IFR noted, citing Moody’s as a source.

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