Greenbrier Receives $75 Million Loan From WL Ross

NEW YORK (AP) — Greenbrier Cos., which produces railroad freight car equipment, said Thursday that said it has received a $75 million term loan that will be used to help pay down debt.

The company has been looking for ways to trim costs during the recession, announcing in February that it would reduce its work force by approximately 150 positions to help save money.

The loan, funded by WL Ross & Co. LLC, has a three-year term and matures in June 2012. The loan also may potentially be increased to $150 million if both companies agree on conditions necessary to raise it. ...