Trinity Industries, Inc. Announces New Railcar Lease Financing

DALLAS, May. 16 /PRNewswire/ --

DALLAS, May 16 /PRNewswire-FirstCall/ -- Trinity Industries, Inc. announced today that its new wholly-owned subsidiary, Trinity Rail Leasing VI LLC ("TRL VI"), issued $572.2 million of promissory notes (the "Notes") secured by a portfolio of railcars, operating leases thereon, and certain cash reserves. The Notes are non-recourse to Trinity Industries, Inc. and the proceeds are being used to repay a portion of Trinity's warehouse facility and to finance unencumbered railcars on Trinity's balance sheet. The interest rate on the Notes was fixed through interest rate hedges.

"We are pleased to complete this financing, especially in light of the current credit markets," said William A. McWhirter, Trinity's Senior Vice President and CFO. "TRL VI provides us with the capital to continue the growth of our railcar lease fleet. Our proven ability to finance railcar leases in the capital markets allows us to continue to serve our customers' leasing needs."

Trinity Industries, Inc., headquartered in Dallas, Texas, is a multi-industry company that owns a variety of market-leading businesses which provide products and services to the industrial, energy, transportation, and construction sectors. Trinity reports its financial results in five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group, and the Energy Equipment Group. For more information, visit: www.trin.net.