Trinity Closes First ‘Green Loan,’ Reduces Texas Workforce

Written by Marybeth Luczak, Executive Editor
Trinity said its “green” term loan—the first for a North American railcar lessor—is aligned with the company’s Green Financing Framework.

Trinity said its “green” term loan—the first for a North American railcar lessor—is aligned with the company’s Green Financing Framework.

Trinity Industries Leasing Company (TILC) has put into action its new Green Financing Framework. Business affiliate TrinityRail Maintenance Services is scaling back its Vidor, Tex., plant.

TILC has issued its first green loan, following the January publication of its Green Financing Framework, which allows the company to “issue green financing instruments, including green non-recourse ABS bonds and green loans, supported by green eligible assets.”

Advisor Crédit Agricole CIB “closed the green loan amendment of the non-recourse senior secured term loan for Trinity Rail Leasing 2017 LLC (TRL 2017),” according to TILC. “The facility was initially a $663 million 7-year non-recourse senior secured term loan dated November 2018 and has been upsized by $225 million in July 2020. TRL 2017 is a wholly owned subsidiary of Trinity Industries Leasing Company, which is ultimately wholly owned by Trinity Industries, Inc.”

On the maintenance business side, Trinity Industries Vice President of Public Affairs Jack Todd told Railway Age: “The reduction in workforce by TrinityRail Maintenance Services at the Vidor facility is due to a shift in company strategy combined with market conditions. TRMS has been working with the workforce to assist in any transitions.”

TrinityRail Maintenance Services recently acquired Bay Worx Rail’s proprietary cleaning technology systems and facility in south Texas.

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