Trinity Industries subsidiary secures $349.8 million term loan
TRN•Trinity Rail Leasing 2026 closed a $349.8 million term loan on October 19, 2026, maturing in five years at daily simple SOFR plus 1.3% annually. Proceeds funded railcar and related operating lease acquisitions, while portfolio sale proceeds repaid borrowings and redeemed $280.9 million in notes.
1. Loan terms
Trinity Industries subsidiary Trinity Rail Leasing 2026 closed a $349.8 million term loan on October 19, 2026. The loan matures October 19, 2031, and carries interest at daily simple SOFR plus 1.3% annually. Regions Bank is administrative agent, and an accordion feature allows for an additional $300 million, subject to approvals and conditions.
2. Use of proceeds
The loan proceeds funded railcar and related operating lease acquisitions, including transaction expenses, with the portfolio securing the loan. Proceeds from portfolio sales repaid warehouse borrowings and fully redeemed Trinity Rail Leasing 2019’s Series 2019-2 Secured Railcar Equipment Notes, totaling $280.9 million.
