By Andrea Heisinger
New York, Sept. 21 - GATX Corp. priced $300 million 4.75% three-year senior notes Monday to yield Treasuries plus 325 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa1/BBB+/) priced at 99.943 to yield 4.77%. They have a make-whole call at Treasuries plus 50 bps and feature a change-of-control put of 101%.
Bookrunners were Citigroup Global Markets Inc. and Bank of America Merrill Lynch. Joint lead manager was Mizuho Securities USA Inc.
Co-managers were PNC Capital Markets and Williams Capital Group LP.
Proceeds will be used to repay commercial paper maturing within 20 days and for general corporate purposes, including working capital and capital expenditures.
The rail, marine and industrial equipment operator and lease company is based in Chicago.
| Issuer: | GATX Corp.
|
| Issue: | Senior notes
|
| Amount: | $300 million
|
| Maturity: | Oct. 1, 2012
|
| Bookrunners: | Citigroup Global Markets Inc., Bank of America Merrill Lynch
|
| Joint lead manager: | Mizuho Securities USA Inc.
|
| Co-managers: | PNC Capital Markets, Williams Capital Group LP
|
| Coupon: | 4.75%
|
| Price: | 99.943
|
| Yield: | 4.77%
|
| Spread: | Treasuries plus 325 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Sept. 21
|
| Settlement date: | Sept. 24
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
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