In March 2024, Element issued US$750 million in 5.643 percent senior unsecured notes due March 13, 2027. The net proceeds were allocated for working capital and general corporate purposes, including the repayment of existing debt.

Element Fleet is the largest publicly traded pure-play automotive fleet manager in the world with approximately 1.5 million client vehicles under management and operations in the U.S., Canada, Mexico and Australia and New Zealand.

Blake, Cassels & Graydon LLP advised Element.

Simpson Thacher represented the initial purchasers with a team that included David Azarkh, Benjamin Heriaud, Kaitlyn Posa and Nate Yang (Capital Markets); Jonathan Cantor and Kris Liu (Tax); Pasco Struhs and Sara Mazurek (ECEB); Alysha Sekhon (IP); Michael Isby (Environmental); Laurel Fresquez (Regulatory); and Jennie Getsin.