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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

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