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| Home : Element Signs US$220 Million Transportation Equipment Financing Facility With Dallas-Based Bridger |
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May 12
2014 |
Element Signs US$220 Million Transportation Equipment Financing Facility With Dallas-Based Bridger |
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TORONTO, ONTARIO--(Marketwired - May 12, 2014) - Element Financial Corporation (TSX:EFN) ("Element"), one of North America's leading equipment finance companies, announced today that it has entered into a US$200 million secured equipment financing agreement with Bridger, LLC ("Bridger"), an oil marketing and midstream logistics company based in Dallas, Texas. The facility, US$62 million of which is being advanced immediately, will be drawn down over the next 12 months for the acquisition by Bridger of a fleet of 1,300 new rail tank cars as well as a fleet of heavy-duty trucks and specialty trailers. The new rail tank cars are being manufactured to exceed the highest regulatory safety standards by Dallas-based Trinity Industries. The transaction was originated by Element's US-based Commercial Finance group (formerly CoActiv Capital Partners) with underwriting support from the Company's Toronto-based Railcar Finance group. |
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| Source:http://www.marketwired.com/mw/release.do?id=1909047&sourceType=3 |
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