January 11, 2022 -- Triton International Limited (NYSE:TRTN)
(the “Company” or “Triton”) today announced that its subsidiaries,
Triton Container International Limited and TAL International
Container Corporation, as co-issuers, have priced a public offering
of $600 million aggregate principal amount of 3.250% Senior Notes
due 2032 (the “Notes”) at an offering price of 99.600% of the
principal amount thereof. The Notes will be guaranteed on a senior
unsecured basis by the Company.
The offering is expected to close on January 19, 2022, subject
to the satisfaction of customary closing conditions. The net
proceeds from the offering are expected to be used to repay
borrowings under the Company’s revolving credit facility.
Citigroup Global Markets Inc., ING Financial Markets LLC, Wells
Fargo Securities, LLC, Fifth Third Securities, Inc., MUFG
Securities Americas Inc. and Truist Securities, Inc. are acting as
joint book-running managers for the offering.
The offering is being made pursuant to an effective shelf
registration statement, previously filed with the Securities and
Exchange Commission (the “SEC”). The offering is being made only by
means of a prospectus supplement and a related prospectus, copies
of which may be obtained on the SEC’s website at www.sec.gov or by
contacting:
Citigroup Global Markets Inc. Attn: Broadridge Financial
Solutions 1155 Long Island Avenue Edgewood, New York 11717 Tel:
1-800-831-9146 Email: prospectus@citi.com
ING Financial Markets LLC Attn: DCM Syndicate Desk 1133 Avenue
of the Americas New York, New York 10036 United States of America
Tel: +1-646-424-8972 E-mail: Ricardo.Zemella@ing.com
Wells Fargo Securities, LLC Attn: WFS Customer Service 608 2nd
Avenue South, Suite 1000 Minneapolis, MN 55402 Tel: 1-800-645-3751
Email: wfscustomerservice@wellsfargo.com
Fifth Third Securities, Inc. 38 Fountain Square Plaza
Cincinnati, Ohio 45263 Tel: 1-866-531-5353
MUFG Securities Americas Inc. 1221 Avenue of the Americas, 6th
Floor New York, New York 10020 Tel: 1-877-649-6848
Truist Securities, Inc. Attn: Prospectus Dept., 303 Peachtree
Street, Atlanta, GA 30308, Tel: 1-800-685-4886 Email:
TSIdocs@Truist.com
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 therefrom, 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,” “seek,” “believe,” “project,” “predict,” “anticipate,”
“potential,” “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, economic, business,
competitive, market and regulatory conditions and the following:
the impact of COVID-19 on our business and financial results;
decreases in the demand for leased containers; decreases in market
leasing rates for containers; difficulties in re-leasing containers
after their initial fixed-term leases; our customers’ decisions to
buy rather than lease containers; dependence on a limited number of
customers and suppliers for a substantial portion of revenues;
customer defaults; decreases in the selling prices of used
containers; extensive competition in the container leasing
industry; difficulties stemming from the international nature of
our business; decreases in demand for international trade;
disruption to our operations resulting from the 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 our operations from
failures of, or attacks on, our information technology systems;
disruption to our 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; our ability to obtain sufficient capital to support our
growth; restrictions imposed by the terms of our debt agreements;
changes in 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 and our
preliminary prospectus supplement and accompanying prospectus
related to the public offering filed with the SEC on January 11,
2022.
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.
About Triton International Limited
Triton International Limited is the world’s largest lessor of
intermodal freight containers. With a container fleet of 7.1
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220111006104/en/
Andrew Greenberg Senior Vice President Business Development
& Investor Relations 914-697-2900
Triton (NYSE:TRTN)
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