We advised Trinity Industries on the reopening of its high-yield debt offering

Davis Polk advised Trinity Industries, Inc. in connection with a Rule 144A / Regulation S offering of $200 million aggregate principal amount of its 7.750% senior notes due 2028. The notes offered constituted a reopening of the $400 million aggregate principal amount of the notes originally issued by Trinity on June 30, 2023. The obligations under the notes are guaranteed by certain of Trinity’s subsidiaries.

Trinity, headquartered in Dallas, Texas, is a leading provider of railcar products and services in North America, under the trade name TrinityRail. The TrinityRail platform provides railcar leasing and management services, railcar manufacturing, maintenance and modifications, and other railcar logistics products and services.

The Davis Polk corporate team included partners Dan Gibbons and Michael Kaplan and associates Jakub P. Jozwiak, Kanger Jin and Hope Goimarac. Partner Kara L. Mungovan and associates Michelle Zhao provided tax advice. Counsel Sarah E. Kim and associate Harrison Perry provided investment management advice. All members of the Davis Polk team are based in the New York office.