Blackstone Credit & Insurance, a unit of Blackstone (BX), and Element Fleet Management said Thursday that they have entered into a funding relationship involving a portfolio of Canadian fleet lease receivables valued at around CA$500 million ($346.9 million).
Element benefits from substantial off-balance sheet treatment, diversifying and optimizing its funding profile through the arrangement, the companies said.
Price: 160.52, Change: +1.06, Percent Change: +0.66
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