Trinity Industries, Inc. Announces Railcar Financing
Business Wire- 11/5/2009 5:00:00 PM EST
Trinity Industries, Inc. Announces Railcar Financing
( BW)(TX-TRINITY-INDUSTRIES)(TRN.NYSE) Trinity Industries, Inc. Announces Railcar Financing
Trinity Industries, Inc. (NYSE:TRN) today reported that its
subsidiaries, Trinity Industries Leasing Company ("TILC") and Trinity
Rail Leasing VII LLC, ("TRL-VII") have closed a railcar leasing
financing in the amount of $238,262,640 with a coupon of 6.657%. The
transaction is secured by railcars and their operating leases. Funds
received from the transaction will be used, in part, to pay down a
portion of TILC’s railcar leasing warehouse facility, and for future
growth of TILC’s lease fleet. At September 30, 2009, TILC’s lease fleet
included approximately 49,470 railcars with a utilization rate of 97.2%.
“The closing of this financing represents an important transaction for
Trinity as a seasoned capital markets participant,” said William A.
McWhirter, Senior Vice President and Chief Financial Officer for Trinity
Industries, Inc. “We are pleased with the execution of the financing as
it demonstrates the market’s positive perception of Trinity’s railcar
leasing business.”
Trinity Industries, Inc., headquartered in Dallas, Texas, is a
multi-industry company that owns a variety of market-leading businesses
which provide products and services to the industrial, energy,
transportation, and construction sectors. Trinity reports its financial
results in five principal business segments: the Rail Group, the Railcar
Leasing and Management Services Group, the Inland Barge Group, the
Construction Products Group, and the Energy Equipment Group. For more
information, visit: www.trin.net.
CONTACT:
Trinity Industries, Inc.
James E. Perry, 214-589-8412
Vice
President, Finance and Treasurer
KEYWORDS: United States North America Texas
INDUSTRY KEYWORDS: Energy Alternative Energy Other Energy Transport Rail Manufacturing Other Manufacturing Professional Services Other Professional Services
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