Trinity adds collateral to boost new rail car ABS
Trinity Industries has priced its second ABS transaction of the year, adding more than 5,000 railcars to its 2019 ABS master trust. The extra collateral highlights the company’s effort to bolster and diversify its lease fleet, a key goal highlighted in its latest earnings statements.
The 3.58 year ‘A-1’ notes were priced at 105bp over swaps, while the seven year ‘A-2’ notes were priced at 175bp over swaps, both on the tighter end of guidance levels.Compared to the six year ‘A’ notes that were priced in April as part of Trinity Rail Leasing ...
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