July 29, 2014-ATEL Leasing Corporation (“ATEL”) announces today the recent acquisition of a coal transfer facility valued at $32MM leased to a subsidiary of American Electric Power (“AEP”).
AEP, listed on the NYSE and an S&P 500 component, is a U.S. electric utility supplying over 5 million customers in 11 states. The company owns the largest electricity transmission system and is one of the largest generators of electricity in the nation at 38,000 megawatts.
“ATEL is pleased to provide lease financing for this strategic facility that is used to distribute coal to power plants along the Ohio River,” announced Dean Cash, President and CEO of ATEL. “For over 100 years, AEP has demonstrated the innovation and made the strategic investments in infrastructure to ensure they can provide customers with safe, reliable power for years to come. This transaction with AEP adds another outstanding asset to our Fortune 500 portfolio.”
ATEL Capital Group is an international financial services company that for over 35 years has offered its clients a wide array of financial solutions including equipment leasing, asset-based lending, venture finance, lease administration and asset management. Since its inception, ATEL has sponsored sixteen publicly registered funds as well as numerous private investment programs.
ATEL's family of Funds have attracted almost 50,000 investors since ATEL's first public program was created in 1986. Additional information about ATEL Capital Group can be found on the Company's web site at www.atel.com