Triton International’s wholly owned subsidiary, Triton Container Finance VI, completed its offering of $429.3 million fixed rate asset-backed notes, Class A at an annual yield of 3.987% and million fixed rate asset-backed notes, Class B at an annual yield of 4.837%.

“We are very pleased to have concluded another successful term ABS note offering,” said Brian M. Sondey, CEO of Triton International Limited. “This offering was Triton’s fourth term ABS issuance since our merger and provides cost effective capital to support our continued market leading investment. The offering also allows us to maintain the proportion of our debt with fixed interest rates at approximately 85%, protecting the company from rising interest rates.”

The Series 2018-1 Notes Class A, which are rated “A” by Standard & Poor’s, were issued with a coupon of 3.95% per annum and an annual yield of 3.987%. The Series 2018-1 Notes Class B, which are rated “BBB” by Standard & Poor’s, were issued with a coupon of 4.78% per annum and an annual yield of 4.837%. The Series 2018-1 Notes have a scheduled maturity date of March 20, 2028 and a legal final maturity date of March 20, 2043. The transaction documents contain customary affirmative and negative covenants, financial covenants, representations and warranties, and events of default, which are subject to various exceptions and qualifications.

The notes were offered within the U.S. only to qualified institutional investors pursuant to Rule 144A under the Securities Act of 1933, as amended and to persons outside the U.S. in compliance with Regulation S under the Securities Act. The notes have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the U.S. except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

Triton International Limited is a lessor of intermodal freight containers. Triton operates a container fleet of more than five million twenty-foot equivalent units (TEU), and its global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis.