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Trinity Refinances Outstanding Debt, Renames Subsidiaries


Trinity Refinances Outstanding Debt, Renames Subsidiaries
Trinity Refinances Outstanding Debt, Renames Subsidiaries
Written by
Marybeth Luczak, Executive Editor
“These refinancings [of TRIP Holdings and RIV 2013] are part of Trinity’s strategic initiatives to improve our returns and drive shareholder value through lowering our cost of capital, and will result in the reduction of the Company’s cost of debt by 50 basis points,” Trinity EVP and CFO Eric Marchetto said.
Trinity Industries’ two partially owned lease subsidiaries have entered into agreements to refinance more than $1.2 billion in outstanding debt.
TRIP Rail Holdings LLC (TRIP Holdings) and RIV 2013 Rail Holdings LLC (RIV 2013) will use the proceeds from the newly issued debt to “fully repay and redeem existing notes and fund expenses related to the refinancing,” Trinity reported. ....

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