---
schema_version: "secwatch.filing_event.v1"
accession: "0000099780-23-000020"
form_type: "8-K"
ticker: "TRN"
cik: "0000099780"
company_name: "TRINITY INDUSTRIES INC"
filed_at: "2023-03-09T23:59:59+00:00"
generated_at: "2026-06-18T08:08:28.802923+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Trinity Industries expands credit facility to $600M, adds $100M annual dividend capacity

## Summary
- Credit facility commitments increased from $450M to $600M; lenders include JPMorgan, BofA, Truist, Wells Fargo, Regions, PNC, Citizens, Fifth Third.
- New covenant: maximum leverage ratio steps down from 4.25:1 (Mar 2023) to 3.75:1 (Dec 2023 and after).
- Company may pay up to $100M in annual dividends if no default and leverage below specified thresholds.
- Bylaws amended to record votes cast against directors; removes reference to votes withheld.

## SEC filing metadata
- accession: 0000099780-23-000020
- form_type: 8-K
- ticker: TRN
- cik: 0000099780
- company_name: TRINITY INDUSTRIES INC
- filed_at: 2023-03-09T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/99780/000009978023000020/0000099780-23-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/99780/000009978023000020/trn-20230306.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000099780-23-000020
- JSON: https://secwatch.observer/filing/0000099780-23-000020.json
- Plain text: https://secwatch.observer/filing/0000099780-23-000020.txt

## Key facts
- Governance Changes
  TRINITY INDUSTRIES INC: The Bylaws were amended to record votes cast against directors as votes cast in director elections, removing the reference to votes to withhold authority (effective 2023-03-06).
  - Change: bylaw amendment
  - Effective: 2023-03-06
  source text: On March 6, 2023, the Company’s Board of Directors amended the last clause of the first paragraph of Article II, Section 7 of the Company’s Bylaws to provide that votes cast against directors are recorded as votes cast in an election of directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/99780/000009978023000020/0000099780-23-000020-index.htm
- Material Agreements
  TRINITY INDUSTRIES INC amended Amendment No. 2 to Second Amended and Restated Credit Agreement with JP Morgan Chase Bank, N.A., as administrative agent, and the other parties thereto valued at $600 million (effective 2023-03-06).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JP Morgan Chase Bank, N.A., as administrative agent, and the other parties thereto
  - Value: $600 million
  - Effective: 2023-03-06
  source text: On March 6, 2023, Trinity Industries, Inc., a Delaware corporation (the “Company”), JP Morgan Chase Bank, N.A., as administrative agent, and the other parties thereto, entered into an Amendment No. 2 to Second Amended and Restated Credit Agreement (the “Second Amendment”), relating to the Second Amended and Restated Credit Agreement dated as of July 25, 2022, as amended by that certain Amendment No. 1 to Credit Agreement, dated as of December 22, 2022 (the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/99780/000009978023000020/0000099780-23-000020-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.