New Issue: GATX sells $400 million 4.9% senior notes due 2033 at 225 bps spread

By Marisa Wong

Los Angeles, Aug. 8 – GATX Corp. priced $400 million of 4.9% senior notes due March 15, 2033 (Baa2/BBB) on Monday, according to an FWP filing with the Securities and Exchange Commission.

The notes priced at 99.049 to yield 5.016%, or a spread of 225 basis points over Treasuries.

The notes feature a make-whole call until Dec. 15, 2032, followed by a par call.

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

Proceeds will be used for general corporate purposes, as disclosed in a previous 424B3 filing with the SEC.

GATX is a Chicago-based railcar lessor, owning fleets in North America, Europe and Asia.

Issuer:	GATX Corp.
Amount:	$400 million
Issue:	Senior notes
Maturity:	March 15, 2033
Bookrunners:	BofA Securities, Inc., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC
Senior co-managers:	KeyBanc Capital Markets Inc., PNC Capital Markets LLC and U.S. Bancorp Investments, Inc.
Co-managers:	BMO Capital Markets Corp., Fifth Third Securities, Inc., Huntington Securities, Inc., Loop Capital Markets LLC, Siebert Williams Shank & Co., LLC and MUFG
Trustee:	U.S. Bank Trust Co., NA
Counsel to issuer:	Mayer Brown LLP
Counsel to underwriters:	Winston & Strawn LLP
Coupon:	4.9%
Price:	99.049
Yield:	5.016%
Spread:	225 bps over Treasuries
Call features:	Make-whole call at Treasuries plus 35 bps prior to Dec. 15, 2032; par call after that
Trade date:	Aug. 8
Settlement date:	Aug. 10
Ratings:	Moody’s: Baa2
	S&P: BBB
Distribution:	SEC registered
Cusip:	361448BK8

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