New Issue: GATX sells $300 million 3.85% 10-year notes at 147 bps over Treasuries

By Cristal Cody

Tupelo, Miss., Feb. 6 – GATX Corp. sold $300 million of 3.85% 10-year senior notes (Baa2/BBB) at 99.744 to yield 3.88% on Monday, according to an FWP filing with the Securities and Exchange Commission.

The notes due March 30, 2027 priced at a spread of Treasuries plus 147 basis points.

Citigroup Global Markets Inc., BofA Merrill Lynch and Morgan Stanley & Co. LLC were the bookrunners.

Proceeds will be used to repay $300 million of the company’s 1.25% senior notes due March 4, 2017 and for general corporate purposes.

GATX is a transportation leasing company based in Chicago.

Issuer:	GATX Corp.
Amount:	$300 million
Description:	Senior notes
Maturity:	March 30, 2027
Bookrunners:	Citigroup Global Markets Inc., BofA Merrill Lynch, Morgan Stanley & Co. LLC
Senior co-manager:	U.S. Bancorp Investments, Inc.
Co-managers:	BMO Capital Markets Corp., KeyBanc Capital Markets Inc., Loop Capital Markets LLC, Mizuho Securities USA Inc., PNC Capital Markets LLC, Williams Capital Group, LP, BNY Mellon Capital Markets, LLC, MUFG
Coupon:	3.85%
Price:	99.744
Yield:	3.88%
Spread:	Treasuries plus 147 bps
Call feature:	Make-whole before Dec. 30, 2026 at greater of par or Treasuries plus 25 bps; thereafter at par
Trade date:	Feb. 6
Settlement date:	Feb. 9
Ratings:	Moody’s: Baa2
	S&P: BBB
Distribution:	SEC registered

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