Triton International Limited Extends and Reprices $1.125 Billion Revolving Credit Facility
22 Maio 2019 - 5:33PM
Business Wire
Triton International Limited (NYSE: TRTN) announced today that
its subsidiaries restated and amended an existing $1,125,000,000
revolving credit facility. The maturity date of the existing
facility was extended to May 16, 2024. Pricing consists of a margin
over LIBOR that varies based on the rating of the subsidiaries’
senior secured debt. The subsidiaries’ senior secured debt is
currently rated BBB- by Standard & Poor’s resulting in an
initial margin of 1.50%, reduced from 2.00% in the existing
deal.
“We are very pleased to have concluded this important extension
and repricing,” commented Brian M. Sondey, Chief Executive Officer
of Triton International Limited. “This amended revolving credit
facility allows us to reduce our interest expense, extend the
duration of our debt and continues to position us to take advantage
of investment opportunities.”
The facility was led by BofA Securities, Inc., MUFG Bank, Ltd.,
Royal Bank of Canada, Wells Fargo Securities LLC, BBVA Compass, ABN
AMRO Bank N.V., Mizuho Bank, Ltd. and PNC Bank, National
Association as Joint Lead Arrangers. Bank of America, N.A. will
serve as the administrative agent. The proceeds from the facility
will be used to refinance the existing revolving credit facility,
and for general corporate purposes.
About Triton International Limited
Triton International Limited is the world’s largest lessor of
intermodal freight containers. With a container fleet of over 6.1
million twenty-foot equivalent units ("TEU"), Triton’s global
operations include acquisition, leasing, re-leasing and subsequent
sale of multiple types of intermodal containers and chassis.
Important Cautionary Information Regarding Forward-Looking
Statements
Certain statements in this release, other than statements of
historical information, are "forward-looking statements", including
statements regarding our strategy, future operations, and future
financial positions, within the meaning of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Statements that include the words "expect,"
“estimate”, "anticipate," “predict”, "believe," “plan”, "will,"
"should", “intend”, “seek”, “potential” and similar expressions and
variations are intended to identify forward-looking statements,
although not all forward looking statements contain these
identifying words. All forward-looking statements address matters
that involve risks and uncertainties, many of which are beyond
Triton's control. Accordingly, there are or will be important
factors that could cause actual results to differ materially from
those indicated in such statements and, therefore, you should not
place undue reliance on any such statements.
These factors include, without limitation, economic, business,
competitive, market and regulatory conditions and those risk
factors set forth in the section entitled "Risk Factors" in our
Annual Report on Form 10-K for the year ended December 31,
2018 (the “Form 10-K”) filed with the Securities and Exchange
Commission ("SEC"), on February 19, 2019, in any Form 10-Q
filed or to be filed by Triton, and in other documents we file with
the SEC from time to time.
The foregoing list of important factors should not be construed
as exhaustive and should be read in conjunction with the other
cautionary statements that are included herein and elsewhere. Any
forward-looking statements made herein are qualified in their
entirety by these cautionary statements, and there can be no
assurance that the actual results or developments anticipated by us
will be realized or, even if substantially realized, that they will
have the expected consequences to, or effects on Triton or its
business or operations. Except to the extent required by applicable
law, we undertake no obligation to update publicly or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20190522005836/en/
Triton International LimitedAndrew Greenberg, 914-697-2900Senior
Vice PresidentFinance & Investor Relations
Triton (NYSE:TRTN)
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