GATX to price tap of 3.1% senior notes due 2051 via three bookrunners

By Devika Patel

Knoxville, Tenn., Aug. 2 – GATX Corp. is eyeing an additional sale of its 3.1% senior notes due June 1, 2051, according to a 424B3 filed with the Securities and Exchange Commission.

The company previously sold $300 million of the notes in a sale that priced on Feb. 1 and settled on Feb. 3. The previous notes were sold at 99.944 with a spread of 125 basis points over Treasuries to yield 3.103%.

The notes have a make-whole call at Treasuries plus 20 basis points until Dec. 1, 2050, and then are callable at par.

BofA Securities Inc., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC are the bookrunners.

Proceeds will be used for general corporate purposes.

The transportation leasing service company is based in Chicago.

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