GATX closed a $600 million revolving credit facility available for a term running through May 26, 2021. Citigroup Global Markets and Merrill Lynch, Pierce, Fenner & Smith served as joint lead arrangers and joint bookrunners.

According to an 8K SEC filing, Bank of America served as syndication agent, PNC Bank, U.S. Bank and Bayerische Landesbank, acting through its New York branch, were co-documentation agents. Citibank served as administrative agent.

The credit agreement replaced a $575 million revolving credit facility, which was terminated upon our entry into the new credit agreement.

The credit agreement provides $600 million in revolving credit availability for a term running through May 26, 2021, with two one-year extensions that the company may exercise upon approval of existing or replacement lenders holding at least 50% of the commitments to lend under the credit agreement. The credit agreement also provides for letters of credit.

GATX, founded in 1898, is a global railcar lessor. The company also operates a fleet of US-flagged vessels on the Great Lakes and own and manage other long-lived, widely-used assets.