Triton International Announces Pricing of $600MM of Senior Secured Notes

Triton International subsidiary Triton Container International Limited (TCIL) priced an offering of $600 million aggregate principal amount of 0.800% senior secured notes due 2023 an offering price of 99.929% of the principal amount. The notes will be guaranteed on a senior unsecured basis by the company.

The offering is expected to close on August 6, 2021, subject to the satisfaction of customary closing conditions. The net proceeds from the offering are expected to be used to repay all of TCIL’s outstanding institutional notes. Any remaining net proceeds from the offering will be used for general corporate purposes, including, but not limited to the expansion of the company’s container fleet and repayment of other existing secured debt.

The notes and the related guarantee have not been, and will not be, registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction. The notes are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A of the Securities Act and to non-U.S. persons outside of the United States in compliance with Regulation S of the Securities Act.

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