TRAC Intermodal to draw on asset-based loan to fund notes redemption

By Marisa Wong

Morgantown, W.Va., Nov. 29 – TRAC Intermodal LLC said it plans to use borrowings under its asset-based credit facility to fund a partial redemption of its 11% senior secured notes due 2019.

The company said it will redeem $25 million of its 11% notes on Dec. 29 at 105.5 plus accrued interest.

TRAC Intermodal is a Princeton, N.J.-based provider of marine and domestic chassis.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.