Triton International Announces Pricing of $1.1 Billion of Senior Secured Notes
26 Maio 2021 - 6:45PM
Business Wire
May 26, 2021 – Triton International Limited (NYSE: TRTN)
(“Triton” or the “Company”) today announced that its subsidiary
Triton Container International Limited (“TCIL”) has priced an
offering of $500 million aggregate principal amount of 1.150%
Senior Secured Notes due 2024 (the “2024 Notes”) at an offering
price of 99.894% of the principal amount thereof and $600 million
aggregate principal amount of 3.150% Senior Secured Notes due 2031
(the “2031 Notes”) at an offering price of 99.906% of the principal
amount thereof. The 2024 Notes and 2031 Notes ("Notes") will be
guaranteed on a senior unsecured basis by the Company.
The offering is expected to close on June 7, 2021, subject to
the satisfaction of customary closing conditions. The net proceeds
from the offering are expected to be used to repay outstanding
borrowings under TCIL’s revolving credit facility and for general
corporate purposes, including the expansion of TCIL’s container
fleet and repayment of other existing secured debt.
The Notes and the related guarantees have not been, and will not
be, registered under the Securities Act of 1933, as amended (the
“Securities Act”), or the securities laws of any other
jurisdiction. The Notes are being offered only to persons
reasonably believed to be qualified institutional buyers pursuant
to Rule 144A of the Securities Act and to non-U.S. persons outside
of the United States in compliance with Regulation S of the
Securities Act.
This press release shall not constitute an offer to sell or the
solicitation of any offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
Important Cautionary Information Regarding Forward-Looking
Statements
Certain statements in this release, other than purely historical
information, including statements about the offering and the
intended use of proceeds of the offering, are “forward-looking
statements” 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,” “intend,”
“plan,” “believe,” “project,” “anticipate,” “will,” “may,” “would”
and similar statements of a future or forward-looking nature may be
used to identify forward-looking statements. 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, those risk factors
included in the offering memorandum for the Notes and the impact of
COVID-19 on the Company’s business and financial results; decreases
in the demand for leased containers; decreases in market leasing
rates for containers; difficulties in releasing containers after
their initial fixed-term leases; customers’ decisions to buy rather
than lease containers; dependence on a limited number of customers
and suppliers; customer defaults; decreases in the selling prices
of used containers; extensive competition in the container leasing
industry; difficulties stemming from the international nature of
the Company’s businesses; decreases in demand for international
trade; disruption to the Company’s operations resulting from
political and economic policies of the United States and other
countries, particularly China, including but not limited to, the
impact of trade wars, duties and tariffs; disruption to the
Company’s operations from failure of, or attacks on, the Company’s
information technology systems; disruption to the Company’s
operations as a result of natural disasters; compliance with laws
and regulations related to economic and trade sanctions, security,
anti-terrorism, environmental protection and corruption; ability to
obtain sufficient capital to support growth; restrictions imposed
by the terms of the Company’s debt agreements; changes in the tax
laws in Bermuda, the United States and other countries; and other
risks and uncertainties, including those risk factors set forth in
the section entitled “Risk Factors” in our Form 10-K filed with the
SEC on February 16, 2021. Any forward-looking statements made
herein are qualified in their entirety by these cautionary
statements. 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.
About Triton International Limited
Triton International Limited is the world’s largest lessor of
intermodal freight containers. Triton operates a container fleet of
over six million twenty-foot equivalent units, and its global
operations include acquisition, leasing, releasing and subsequent
sale of multiple types of intermodal containers and chassis.
Source: Triton International Limited
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version on businesswire.com: https://www.businesswire.com/news/home/20210526006130/en/
Andrew Greenberg Senior Vice President Business Development
& Investor Relations (914) 697-2900
Triton (NYSE:TRTN)
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