CAI International to repay debt under $305 million railcar revolver

By Susanna Moon

Chicago, Aug. 6 – CAI International, Inc. plans to repay debt under its senior secured railcar revolving credit facility due Oct. 22, 2020 using proceeds of series B preferred stock, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds also will be used for general corporate purposes, which may include share repurchases, payments to manufacturers, investments in containers and other assets or acquisitions.

As of June 30, there was about $305 million outstanding under the railcar revolver with an interest rate of 3.6%.

CAI is a San Francisco-based intermodal marine cargo container leasing company.

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