CAI International Announces an $85M Senior Credit Facility for the Acquisition of Rail Cars

CAI International, Inc. (CAI) CAP today reported that it has entered into an $85 million senior credit facility for the acquisition of rail cars. The senior credit facility is a three-year revolving line of credit with an 80% advance rate on the net book value of eligible rail cars, as defined in the agreement. The facility has a floating rate indexed to Libor plus a margin ranging from 1.50% to 2.25%. The initial margin is set at 2.25%.