TRINITY INDUSTRIES INC (TRN): debt financing — Trinity Industries prices $400M of 7.750% Senior Notes due 2028

TRINITY INDUSTRIES INC

Issued $400M aggregate principal of 7.750% Senior Notes due July 15, 2028; net proceeds ~$394.5M.
Proceeds used to repay revolving credit facility; may also repay $4.550% Senior Notes due 2024.
Notes are senior unsecured; guaranteed by domestic subsidiaries that back the revolving credit facility.
Interest paid semi-annually Jan 15 & Jul 15 starting Jan 15, 2024; make-whole redemption prior to Jul 15, 2025.
Redemption up to 40% of Notes before Jul 15, 2025 at 107.750% using equity offering proceeds.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TRINITY INDUSTRIES INC incurred senior notes of $400.0 million with BofA Securities, Inc. and Truist Bank at 7.750% per annum maturing July 15, 2028.

Instrument: senior notes
Principal: $400.0 million
Counterparty: BofA Securities, Inc. and Truist Bank
Rate: 7.750% per annum
Maturity: July 15, 2028
Event: incurrence

Exact text from the filing

the Company issued $400.0 million aggregate principal amount of its 7.750% Senior Notes due 2028

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TRINITY INDUSTRIES INC entered into Indenture with Truist Bank valued at $400.0 million (effective 2023-06-30).

Action: entry
Agreement: notes offering
Counterparty: Truist Bank
Value: $400.0 million
Effective: 2023-06-30

Exact text from the filing

On June 30, 2023 (the “Closing Date”), Trinity Industries, Inc. (the “Company” or “we”) entered into an indenture (the “Indenture”), by and among the Company, certain subsidiaries of the Company named as guarantors therein (the “Guarantors”) and Truist Bank, as trustee, pursuant to which the Company issued $400.0 million aggregate principal amount of its 7.750% Senior Notes due 2028

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TRINITY INDUSTRIES INC filing history →

Source: SEC EDGAR

accession 0000099780-23-000103

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