GATX sets talk, to sell $250 million five-year senior notes Thursday

By Andrea Heisinger

New York, March 14 - GATX Corp. is set to price $250 million of five-year senior notes (Baa2/BBB/) on Thursday, an informed source said.

Whispered price talk at midday was in the low 100 basis points over Treasuries area, the source said.

There is a change-of-control put at 101%.

Bookrunners are Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC.

Co-managers are BMO Capital Markets Corp., KeyBanc Capital Markets Inc., Mizuho Securities USA Inc. and U.S. Bancorp Investments Inc.

Proceeds will be used to repay commercial paper, to repay $100 million under an unsecured floating-rate term loan facility due May 17 and for general corporate purposes.

GATX was last in the bond market with a $250 million sale of 10-year notes on June 5, 2012.

The transportation leasing service company is based in Chicago.

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