Trinity Industries to Offer $200M Senior Notes

Trinity Industries, Inc. has announced its intention to offer an additional $200.0 million aggregate principal amount of its 7.750% senior notes due 2028. The company plans to use the net proceeds from this offering, along with cash on hand and/or borrowings under its corporate revolving credit facility, to finance the repayment in full of its 4.550% senior notes due 2024 and to pay related fees, costs, premiums, and expenses in connection with the offering.

The additional notes will constitute a further issuance of the company’s 7.750% senior notes due 2028, bringing the total aggregate principal amount to $400.0 million, which were initially issued on June 30, 2023.

Upon the completion of the offering, the company will have $600.0 million in aggregate principal amount of 7.750% senior notes due 2028 outstanding. It is expected that each of the company’s existing and future domestic subsidiaries that guarantee its existing corporate revolving credit facility and the existing notes will also guarantee the additional notes.

It's important to note that the additional notes and related guarantees have not been registered under the Securities Act of 1933, as amended, or any state securities laws. They may only be offered or sold in the United States pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release is being issued in accordance with rule 135c under the Securities Act and does not constitute an offer to sell or a solicitation of an offer to buy any securities. As a result of these announcements, the company's shares have moved -0.5% on the market, and are now trading at a price of $30.61. For the full picture, make sure to review Trinity Industries's 8-K report.

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