TRAC Intermodal calls $25 million of 11% senior secured notes due 2019

By Marisa Wong

Morgantown, W.Va., Nov. 29 – TRAC Intermodal LLC said it will redeem $25 million of its 11% senior secured notes due 2019 on Dec. 29.

The notes will be redeemed at 105.5 plus accrued interest.

Following the redemption, $45 million of the notes will remain outstanding. The company originally sold $300 million of the notes in August 2012.

The company said it intends to fund the redemption using borrowings under its asset-based credit facility.

TRAC Intermodal is a Princeton, N.J.-based provider of marine and domestic chassis.

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