TRAC Intermodal sets Monday investor call for $485 million secured notes offer; pricing this week

By Paul A. Harris

Portland, Ore., March 7 – TRAC Intermodal LLC and TRAC Intermodal Corp. were scheduled to participate in a mid-morning investor conference call on Monday, according to a syndicate source.

They plan to sell $485 million of second-lien notes due 2021.

A roadshow is set to kick off with an investor group lunch scheduled for noon ET on Tuesday in New York. An investor group breakfast is scheduled for 8 a.m. ET on Wednesday in Boston.

The Rule 144A with registration rights notes offering is expected to price at the end of the present week.

Morgan Stanley & Co. LLC, BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., ING, MUFG and Wells Fargo Securities LLC are the joint bookrunners.

The notes come with two years of call protection.

The Princeton, N.J.-based intermodal equipment provider and chassis pool manager plans to use the proceeds to repay debt and fund a dividend.

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