The Greenbrier Companies issued a notice of redemption notifying holders of its outstanding 2.375% convertible senior notes due 2026 that the company is calling for redemption on August 18, 2016, prior to their maturity, all of its outstanding notes at a redemption price equal to 100% of the principal amount of the notes, plus accrued and unpaid interest thereon to, but excluding, the redemption date.

The redemption price, together with the interest, will be due and payable on each redeemed note on the redemption date as provided in the redemption notice.

Pursuant to the terms of the notes and the indenture, the notes may be converted into Greenbrier common stock prior to 5 p.m. ET on August 16, 2016, the second business day preceding the redemption date provided that the requirements set forth in Article XII of the indenture are satisfied. The conversion rate is 21.2958 shares of common stock per $1,000 principal amount of the notes, or an effective conversion price of approximately $46.96 per share. If none of the notes are converted, Greenbrier expects that the aggregate purchase price will be approximately $870,000, not including accrued interest.

U.S. Bank is acting as paying agent and conversion agent.

Greenbrier is a supplier of transportation equipment and services to the railroad industry.