By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, April 6 –Triton International Ltd. subsidiary Triton Container International Ltd. priced an upsized $600 million of 2.05% senior secured first-lien notes due 2026 (//BBB-) at 99.896, according to a news release Tuesday.
The notes priced with a spread of Treasuries plus 120 basis points after initially being talked in the Treasuries plus 145 bps area, according to a market source.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Wells Fargo Securities LLC are bookrunners for the notes.
Proceeds from the Rule 144A and Regulation S notes will be used for general corporate purposes, including to expand the company’s container fleet and to repay existing secured debt.
The lessor of intermodal freight containers has headquarters in Hamilton, Bermuda.
| Issuer: | Triton Container International Ltd.
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| Issue: | Senior secured first-lien notes
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| Amount: | $600 million
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| Maturity: | April 15, 2026
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| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Wells Fargo Securities LLC
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| Coupon: | 2.05%
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| Price: | 99.896
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| Spread: | Treasuries plus 120 bps
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| Pricing date: | April 6
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| Settlement date: | April 15
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| Rating: | Fitch: BBB-
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| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 145 bps area
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