Element Announces Inaugural Equity Residual Transaction, Expanding Strategic Funding Capabilities

▤ Summary

Element completed a $670 million asset-backed security note offering and sold equity residuals tied to U.S. fleet lease receivables. The company says the structure improves off-balance-sheet funding, reduces leverage, and broadens its capital sources. Element also says the deal strengthens its ability to support client growth and long-term expansion. Blackstone Credit & Insurance and CPP Investments are backing the transaction under a new three-year commitment.

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