Yesterday Triton International Limited (“Triton” or the “Company”) (NYSE:TRTN) completed its previously announced preferred equity offering of 8.0% Series B Cumulative Redeemable Perpetual Preference Shares, raising gross proceeds of $143.8 million including the full exercise by the underwriters of their over-allotment option.
“We are very pleased to have completed our second issuance of perpetual preferred shares,” commented Brian M. Sondey, Chief Executive Officer of Triton International Limited. “We continue to believe the fixed-for-life preferred shares provide an attractive combination of risk protection and cost and are a valuable addition to our capital structure. In addition, our Series B issuance reflected a 50 basis points improvement in pricing from our initial offering of preferred shares in March.”
About Triton International Limited
Triton International Limited is the world’s largest lessor of intermodal freight containers. With a container fleet of 6.1 million twenty-foot equivalent units ("TEU"), Triton’s global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis.
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