---
schema_version: "secwatch.filing_event.v1"
accession: "0000099780-23-000098"
form_type: "8-K"
ticker: "TRN"
cik: "0000099780"
company_name: "TRINITY INDUSTRIES INC"
filed_at: "2023-06-12T23:59:59+00:00"
generated_at: "2026-06-14T03:27:06.452604+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Trinity unit closes $340M term loan for railcar portfolio refinancing

## Summary
- Trinity Rail Leasing 2023 LLC borrowed $340M under a Term Loan Agreement dated June 12, 2023.
- Loan carries interest at Daily Simple SOFR + 0.10% SOFR Adjustment + 1.80% margin; matures June 12, 2028.
- Proceeds used to buy a railcar portfolio from TILC and TRLWT, repaying ~$300.1M of TRLWT's warehouse facility.
- Accordion feature allows up to $170M additional funding subject to approvals.

## SEC filing metadata
- accession: 0000099780-23-000098
- form_type: 8-K
- ticker: TRN
- cik: 0000099780
- company_name: TRINITY INDUSTRIES INC
- filed_at: 2023-06-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/99780/000009978023000098/0000099780-23-000098-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/99780/000009978023000098/trn-20230612.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000099780-23-000098
- JSON: https://secwatch.observer/filing/0000099780-23-000098.json
- Plain text: https://secwatch.observer/filing/0000099780-23-000098.txt

## Key facts
- Debt Financings
  TRINITY INDUSTRIES INC incurred term loan of $340,000,000 with Wells Fargo Bank, National Association, as Administrative Agent at Daily Simple SOFR plus 0.10% SOFR Adjustment plus 1.80% Applicable Facility Marg maturing June 12, 2028.
  - Instrument: term loan
  - Principal: $340,000,000
  - Counterparty: Wells Fargo Bank, National Association, as Administrative Agent
  - Rate: Daily Simple SOFR plus 0.10% SOFR Adjustment plus 1.80% Applicable Facility Marg
  - Maturity: June 12, 2028
  - Event: incurrence
  source text: On June 12, 2023, Trinity Rail Leasing 2023 LLC, a Delaware limited liability company (“TRL-2023”), and a limited purpose, wholly-owned, indirect subsidiary of Trinity Industries, Inc. (the “Company”), owned by the Company through the Company’s direct, wholly-owned subsidiary Trinity Industries Leasing Company (“TILC”), entered into a Term Loan Agreement dated as of June 12, 2023 (the “Loan Agreement”) among the lenders party thereto, Wells Fargo Bank, National Association, as Administrative Agent, and U.S. Bank Trust Company, National Association, not in its individual capacity, but solely in its capacity as Collateral Agent and Depositary. On the same date, TRL-2023 completed the funding of a $340,000,000 term loan under the Loan Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/99780/000009978023000098/0000099780-23-000098-index.htm
- Material Agreements
  TRINITY INDUSTRIES INC entered into Loan Agreement with the lenders party thereto, Wells Fargo Bank, National Association, as Administrative Agent, and U.S. Bank Trust Company, National Association, not in its individual capacity, but solely in its capacity as Collateral Agent and Depositary valued at $340,000,000 (effective 2023-06-12).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: the lenders party thereto, Wells Fargo Bank, National Association, as Administrative Agent, and U.S. Bank Trust Company, National Association, not in its individual capacity, but solely in its capacity as Collateral Agent and Depositary
  - Value: $340,000,000
  - Effective: 2023-06-12
  source text: On June 12, 2023, Trinity Rail Leasing 2023 LLC, a Delaware limited liability company (“TRL-2023”), and a limited purpose, wholly-owned, indirect subsidiary of Trinity Industries, Inc. (the “Company”), owned by the Company through the Company’s direct, wholly-owned subsidiary Trinity Industries Leasing Company (“TILC”), entered into a Term Loan Agreement dated as of June 12, 2023 (the “Loan Agreement”) among the lenders party thereto, Wells Fargo Bank, National Association, as Administrative Agent, and U.S. Bank Trust Company, National Association, not in its individual capacity, but solely in its capacity as Collateral Agent and Depositary.
  evidence_url: https://www.sec.gov/Archives/edgar/data/99780/000009978023000098/0000099780-23-000098-index.htm

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