[6-K] Triton International Ltd Current Report (Foreign Issuer)
Rhea-AI Filing Summary
Triton International Limited amended and restated the loan agreement for its $1.125 billion asset-backed warehouse facility through subsidiaries TIF Funding LLC and TCIL Funding I LLC. As of the amendment date, $260.0 million was outstanding under this facility, which is secured by a pool of intermodal containers and related assets.
The changes add TCIL Funding I LLC as a borrower, bring in a new lender without changing the total lender commitments, and extend the revolving period to November 2028, during which borrowings bear interest at Daily Simple SOFR plus 1.50%. After the revolving period, any borrowings convert to term notes maturing in November 2032 with interest at Daily Simple SOFR plus 2.50%. The facility continues to include customary covenants for this type of financing.
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FAQ
What did Triton International (TRTN) change in its warehouse facility?
Triton International amended and restated the loan agreement for its asset-backed warehouse facility, adding TCIL Funding I LLC as a borrower and updating related facility documents.
What is the size of Triton International’s amended warehouse facility?
The warehouse facility remains at $1.125 billion in aggregate lender commitments, secured primarily by intermodal containers and related assets.
How much was outstanding under Triton’s warehouse facility at the time of the amendment?
As of the date of the warehouse facility amendment, $260.0 million was outstanding under the facility.
What are the new maturity and interest terms for Triton International’s warehouse facility?
The revolving period is extended to November 2028 with borrowings at Daily Simple SOFR plus 1.50%, then borrowings convert to term notes maturing in November 2032 at Daily Simple SOFR plus 2.50%.
Who are the key parties involved in Triton International’s amended warehouse facility?
The borrowers are TIF Funding LLC and TCIL Funding I LLC, with Wells Fargo Bank, National Association as administrative agent, Wilmington Trust, National Association as collateral agent and securities intermediary, and certain lenders providing funding.
Does the amended warehouse facility include covenants for Triton International?
Yes. The warehouse facility includes affirmative and negative covenants and representations and warranties that are described as customary for financings of this type.
Is this Triton International 6-K incorporated into any registration statements?
Yes. The report is incorporated by reference into Triton International’s registration statements on Form F-3 with File Nos. 333-283474 and 333-291561.