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.
Triton International Limited filed a Q3 2025 Form 6‑K reporting solid profitability while reshaping its portfolio. Total revenues were 333,838 and net income was 117,329 for the quarter; net income attributable to the common shareholder was 101,441. Operating income reached 201,229 as depreciation eased following changes to useful lives, which reduced depreciation expense by $18.2 million in Q3 and $40.7 million year‑to‑date.
On the balance sheet, total assets were 10,036,094, debt (net) was 6,759,865, and shareholders’ equity was 2,578,915. The company completed the $1,076.6 million acquisition of Global Container International LLC on July 1, 2025 and, in March, distributed Triton Container Finance VIII LLC with approximately $1.8 billion in assets and $1.3 billion in indebtedness. Average utilization was 97.9% in Q3, with ending utilization at 97.6%.
Year‑to‑date cash flows included 723,937 provided by operating activities, (818,423) used in investing, and 91,253 provided by financing. The company also issued Series F preference shares in February, contributing to 880,000 at liquidation preference, and declared quarterly preference dividends of 15,888 in Q3.