By Andrea Heisinger
New York, Nov. 3 - GATX Corp. priced $203.48 million 9% five-year pass-through trust certificates (A3/A-) Monday to yield Treasuries plus 627 basis points, a market source said.
The certificates priced at par to yield 9%. They have an average life of 4.5 years, according to a 424B3 filing with the Securities and Exchange Commission.
Bookrunners were Citigroup Global Markets Inc. and Banc of America Securities LLC. Co-managers were Mizuho Securities and the Williams Capital Group.
Proceeds will be used to purchase equipment notes at par, to repay outstanding debt and for general corporate purposes.
The transportation and industrial equipment leasing company is based in Chicago.
| Issuer: | GATX Corp.
|
| Issue: | Pass-through trust certificates
|
| Amount: | $203.477 million
|
| Maturity: | Nov. 15, 2013 (average life of 4.5 years)
|
| Bookrunners: | Citigroup Global Markets Inc., Banc of America Securities LLC
|
| Co-managers: | Mizuho Securities, the Williams Capital Group
|
| Coupon: | 9%
|
| Price: | Par
|
| Yield: | 9%
|
| Spread: | Treasuries plus 627 bps
|
| Ratings: | Moody's: A3
|
| S&P: A-
|
| Trade date: | Nov. 3
|
| Settlement date: | Nov. 6
|
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