Triton International Announces Pricing of $ 1.1 Billion Senior Secured Notes | 2021-05-26 | Press Releases

May 26, 2021 – Triton International Limited (NYSE: TRTN) (“Triton & CloseCurlyDoubleQuote; or the” Company & CloseCurlyDoubleQuote;) announced today that its subsidiary Triton Container International Limited (“TCIL & CloseCurlyDoubleQuote;) has offered an offer of ‘an aggregate capital amount of $ 500 million of 1.150%. Senior Secured Notes due 2024 (the “2024 Notes and CloseCurlyDoubleQuote;) at an offering price of 99.894% of their principal amount and $ 600 million aggregate principal amount of 3.150% Senior Secured Notes due in 2031 (the “2031 Notes and CloseCurlyDoubleQuote;) at an offer price of 99.906% of its principal amount. The 2024 Notes and the 2031 Notes (the “Notes”) will be guaranteed on a senior unsecured basis by the Company.

The offer is expected to close on June 7, 2021, subject to the satisfaction of customary closing conditions. The net proceeds of the offering are expected to be used to repay outstanding borrowings under the TCIL & CloseCurlyQuote revolving credit facility; and for general corporate purposes, including expansion of the container fleet of TCIL & CloseCurlyQuote; and the repayment of other existing secured debts.

The Notes and related collateral have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act & CloseCurlyDoubleQuote;), or the securities laws of any other jurisdiction. The Notes are offered only to persons reasonably considered to be Qualified Institutional Purchasers in accordance with Rule 144A of the Securities Act and to non-US persons outside the United States in accordance with Regulation S of the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor any sale of such securities in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or sale. qualification. under the securities laws of any state or jurisdiction.

Important Precautions Regarding Forward-Looking Statements

Certain statements in this release, other than purely historical information, including statements about the offering and intended use of the proceeds of the offering, are “forward-looking & CloseCurlyDoubleQuote statements; within the meaning of the Private Securities Litigation Reform Act of 1995, section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Declarations that include the words “expect, & CloseCurlyDoubleQuote; “Intent, & CloseCurlyDoubleQuote; “Plan, & CloseCurlyDoubleQuote;” Believe, & CloseCurlyDoubleQuote; “Project, & CloseCurlyDoubleQuote;” Anticipate, & CloseCurlyDoubleQuote; “Will, & CloseCurlyDoubleQuote; “Can, & CloseCurlyDoubleQuote; “Would be & CloseCurlyDoubleQuote; and similar statements of a future or forward-looking nature may be used to identify forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties, many of which are beyond the control of Triton & CloseCurlyQuote ;. Accordingly, there are or will be significant factors which could cause actual results to differ materially from those shown in such statements and, therefore, you should not place undue reliance on such statements.

These factors include, without limitation, the risk factors included in the offering memorandum for the Notes and the impact of COVID-19 on the business and financial results of the Company and CloseCurlyQuote; decreased demand for leased containers; decreases in market rental rates for containers; difficulties in releasing containers after their first fixed-term leases; clients & CloseCurlyQuote; decisions to buy rather than lease containers; dependence on a limited number of customers and suppliers; customer’s faults; lower selling prices for used containers; strong competition in the container rental industry; difficulties related to the international character of the company and the activities of CloseCurlyQuote; decreased demand for international trade; the disruption of the operations of the Company and CloseCurlyQuote; s resulting from the political and economic policies of the United States and other countries, particularly China, including, but not limited to, the impact of trade wars, duties and tariffs; disruption of Company and CloseCurlyQuote operations; following a failure or attacks on the computer systems of the company and CloseCurlyQuote; disruption of the business of the Company and CloseCurlyQuote; following natural disasters; compliance with laws and regulations relating to economic and trade sanctions, security, the fight against terrorism, environmental protection and corruption; ability to raise sufficient capital to support growth; restrictions imposed by the terms of the company’s debt agreements & CloseCurlyQuote; changes in tax laws in Bermuda, the United States and other countries; and other risks and uncertainties, including the risk factors set out in the section entitled “Risk Factors and CloseCurlyDoubleQuote; in our Form 10-K filed with the SEC on February 16, 2021. All forward-looking statements made herein are qualified in their entirety by these cautionary statements. Except to the extent required by applicable law, we assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

About Triton International Limited

Triton International Limited is the world’s largest lessor of intermodal freight containers. Triton operates a container fleet of more than six million twenty-foot equivalent units, and its global operations include the acquisition, rental, offering for sale and subsequent sale of several types of containers and intermodal chassis.

Source: Triton International Limited

Andrew Greenberg

Senior vice president

Business Development and Investor Relations

(914) 697-2900


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