Greenbrier closes $300M railcar ABS with 5.2% blended rate, AA/A ratings

GREENBRIER COMPANIES INC

Issued $280.4M Class A notes at 5.13% and $19.6M Class B notes at 5.30% via GBX Leasing 2022-1 LLC.
Notes rated 'AA' (Class A) and 'A' (Class B) by S&P; weighted average lives of 6.7 and 7.0 years, respectively.
Includes a 2.5-year call feature; interest payable monthly, final maturity February 22, 2056.
Secured by a railcar portfolio and operating leases; non-recourse financing not guaranteed by Greenbrier.
Net proceeds used for general corporate purposes; CEO cites strong demand and favorable terms.

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