TRAC Intermodal to draw on asset-based loan to fund note redemption

New York, July 15 – TRAC Intermodal LLC said it will borrow from its asset-based credit facility in order to fund a redemption of $80 million of its 11% senior secured notes due 2019.

The notes will be repaid at 105.5% of par plus accrued interest on Aug. 15, according to a news release.

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

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