Trinity Industries, Inc. Announces its Subsidiary Acts as Advisor & Arranger on ECN Capital Corp.’s Sale of a Portfolio of ...
October 04 2017 - 12:30PM
Business Wire
Trinity Industries, Inc. (NYSE:TRN) today announced that its
wholly-owned subsidiary TrinityRail Asset Management Company, LLC
(“TRAMCo”) acted as an advisor and arranger on ECN Capital Corp.’s
(“ECN Capital”) sale of a portfolio of approximately 9,950 leased
railcars. TRAMCo also acted as advisor to Napier Park Global
Capital (US) LP (“Napier Park”), the investment manager of the
purchaser of substantially all of this portfolio. TRAMCo earned
fees in its capacity as advisor and arranger.
“We were very pleased to facilitate the sale of ECN Capital’s
leased railcar portfolio,” said D. Stephen Menzies, Trinity
Industries, Inc. Senior Vice President and TrinityRail Group
President. “Through our comprehensive knowledge of this railcar
portfolio and reputation as a premier provider of railcar services
to institutional investors, we were successful in bringing two of
our strategic partners together in this transaction, ECN Capital
and Napier Park.”
Mr. Menzies added, “We will continue to service the leased
railcars under the new ownership, maintaining a seamless transition
for the underlying lessees and our strategic partners. In addition,
we are pleased to become the manager on an additional portfolio of
approximately 3,600 leased railcars which were previously managed
by ECN Capital, bringing TrinityRail’s owned and managed fleet to
approximately 112,000 railcars.”
Trinity Industries, Inc., headquartered in Dallas, Texas, is a
diversified industrial company that owns complementary
market-leading businesses providing products and services to the
energy, chemical, agriculture, transportation, and construction
sectors, among others. Trinity reports its financial results in
five principal business segments: the Rail Group, the Railcar
Leasing and Management Services Group, the Inland Barge Group, the
Construction Products Group, and the Energy Equipment Group. For
more information, visit: www.trin.net.
TrinityRail Asset Management Company, LLC, a wholly-owned
subsidiary of Trinity Industries, Inc., provides advisory,
portfolio development, and asset management services to investors
in portfolios of leased railcars.
Some statements in this release, which are not historical facts,
are “forward-looking statements” as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements about Trinity's estimates,
expectations, beliefs, intentions or strategies for the future, and
the assumptions underlying these forward-looking statements.
Trinity uses the words “anticipates,” “assumes,” “believes,”
“estimates,” “expects,” “intends,” “forecasts,” “may,” “will,”
“should,” “guidance,” “outlook,” and similar expressions to
identify these forward-looking statements. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from historical experience or our
present expectations. For a discussion of such risks and
uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see “Risk
Factors” and “Forward-Looking Statements” in the Company's Annual
Report on Form 10-K for the most recent fiscal year.
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version on businesswire.com: http://www.businesswire.com/news/home/20171004006069/en/
Trinity Industries, Inc.Investor Contact:Preston Bass,
214-631-4420Director, Investor RelationsorMedia Contact:Jack
Todd, 214-589-8909Vice President, Public Affairs
Trinity Industries (NYSE:TRN)
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