By Lisa Kerner
Charlotte, N.C., Jan. 23 – American Railcar Industries, Inc. subsidiary Longtrain Leasing III, LLC agreed to issue $625,487,000 of fixed-rate secured railcar equipment notes, according to a form 8-K filed with the Securities and Exchange Commission.
The notes will be sold as:
• $250 million of 2.98% class A-1 notes; and
• $375,487,000 of 4.06% class A-2 notes.
The notes will be secured by, among other things, 6,081 railcars and related railcar leases, receivables and other related assets.
Proceeds will be used to purchase railcars and related assets from American Railcar and to pay off in full prior lease fleet financing arrangements that secured a portion of the subject assets.
Credit Suisse Securities (USA) LLC was lead manager for the Rule 144A and Regulation S offering with Credit Agricole Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Inc. and DVB Capital Markets LLC also in the syndicate.
American Railcar is a St. Charles, Mo., manufacturer of railroad cars.
| Issuer: | Longtrain Leasing III, LLC
|
| Issue: | Fixed-rate secured railcar equipment notes
|
| Amount: | $625,487,000
|
| Managers: | Credit Suisse Securities (USA) LLC (lead), Credit Agricole Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., DVB Capital Markets LLC
|
| Pricing date: | Jan. 23
|
| Settlement: | Jan. 29
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-1 notes
|
| Amount: | $250 million
|
| Coupon: | 2.98%
|
|
|
| Class A-2 notes
|
| Amount: | $375,487,000
|
| Coupon: | 4.06%
|
|
|
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