Trinity Industries Leasing Company Announces $333.8M Railcar Financing

Trinity Industries, Inc. TRN (“Trinity”) today reported that its wholly-owned subsidiaries, Trinity Industries Leasing Company ("TILC") and Trinity Rail Leasing 2012 LLC ("TRL-2012"), closed a two-tranche railcar asset-backed securitization in the aggregate amount of $333.8 million at a blended coupon of approximately 3.0% and an average weighted life of approximately 8 years at closing. The transaction is secured by railcars and their associated operating leases, and the obligations are non-recourse to Trinity and TILC. Proceeds received from the transaction will be used to repay a portion of TILC's railcar leasing warehouse facility, future growth of TILC's lease fleet, and general corporate purposes. At September 30, 2012, TILC's lease fleet, including TRIP Holdings, the Company's leasing joint venture, included approximately 71,255 railcars with a utilization rate of 99.0%.