This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Trinity Industries, Inc.’s Leasing Company Announces $333.8 Million Railcar Financing

Trinity Industries, Inc. (NYSE:TRN) (“Trinity”) today reported that its wholly-owned subsidiaries, Trinity Industries Leasing Company ("TILC") and Trinity Rail Leasing 2012 LLC ("TRL-2012"), closed a two-tranche railcar asset-backed securitization in the aggregate amount of $333.8 million at a blended coupon of approximately 3.0% and an average weighted life of approximately 8 years at closing. The transaction is secured by railcars and their associated operating leases, and the obligations are non-recourse to Trinity and TILC. Proceeds received from the transaction will be used to repay a portion of TILC’s railcar leasing warehouse facility, future growth of TILC’s lease fleet, and general corporate purposes. At September 30, 2012, TILC’s lease fleet, including TRIP Holdings, the Company’s leasing joint venture, included approximately 71,255 railcars with a utilization rate of 99.0%.

“We are very pleased with the execution of the TRL-2012 transaction and our ability to capitalize on a historically low interest-rate environment,” said James E. Perry, Senior Vice President and Chief Financial Officer for Trinity Industries, Inc. “Our balance sheet remains healthy overall, and the Company is well positioned to capitalize on investment opportunities as they arise.”

Trinity Industries, Inc., headquartered in Dallas, Texas, is a diversified industrial 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.



Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,260.78 -24.96 -0.14%
S&P 500 2,129.01 -1.81 -0.08%
NASDAQ 5,093.0560 +2.2620 0.04%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs