Simpson Thacher represented the initial purchasers in connection with the offering by Element Fleet Management Corp. (“Element Fleet”) of US$750 million aggregate principal amount of 5.643% Senior Notes due 2027, pursuant to Rule 144A and Regulation S.~~Element Fleet intends to use the net proceeds from the offering for working capital and general corporate purposes, which may include the repayment of existing indebtedness.~~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.~~The Simpson Thacher team 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 (Blue Sky).