Triton International Limited Announces Pricing of $150 Million Series F Preference Shares Offering a global leader in container leasing and maritime logistics solutions, has announced the pricing of an underwritten public offering for its 7.625% Series F Cumulative Redeemable Perpetual Preference Shares (“Series F Preference Shares”). The offering comprises 6,000,000 shares, each with a liquidation preference of $25.00, amounting to total gross proceeds of $150 million.
Strategic Use of Proceeds
The Company intends to utilize the net proceeds from this offering for general corporate purposes, including expanding its leasing portfolio through the acquisition of new containers, ensuring consistent dividend payments to shareholders, and managing its financial obligations by repurchasing or repaying outstanding debt. By strategically allocating these funds, the Company aims to enhance its operational capacity, strengthen its financial position, and sustain long-term growth. Additionally, optimizing the capital structure remains a priority to improve financial flexibility and maintain its competitive edge in the industry. Through these measures, Triton International Company reaffirms its commitment to driving value for shareholders, ensuring operational efficiency, and securing its leadership position in the market amid evolving industry dynamics and economic conditions.
Closing and Listing Details
The transaction is anticipated to close on February 6, 2025, subject to standard regulatory approvals and closing conditions. Triton International also intends to list the Series F Preference Shares on the New York Stock Exchange (NYSE) under the ticker symbol “TRTN PRF” within 30 days following the original issue date.
Book-Running and Co-Managers
A group of leading financial institutions is overseeing the offering. Morgan Stanley & Co. LLC, BofA Securities, Inc., RBC Capital Markets, LLC, UBS Investment Bank, and Wells Fargo Securities, LLC serve as joint book-running managers. Additionally, Brookfield Securities LLC, Citizens JMP Securities, LLC, and Fifth Third Securities, Inc. are acting as co-managers. This strong underwriting syndicate underscores investor confidence in Triton’s financial stability and growth strategy.
Regulatory Compliance and Investor Information
This offering is being conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC). The securities will be offered exclusively through a prospectus supplement and accompanying prospectus, which can be accessed on the SEC’s official website at www.sec.gov.
Interested investors may also obtain copies of the prospectus through the following contacts:
- Morgan Stanley & Co. LLC: Attn: Prospectus Department, 180 Varick Street, New York, NY 10014, Phone: (866) 718-1649, Email: [email protected]
- BofA Securities, Inc.: Attn: Prospectus Department, 200 North College Street, 3rd Floor NC1-004-03-43, Charlotte, NC 28255, Phone: (800) 294-1322, Email: [email protected]
- RBC Capital Markets, LLC: Attn: Syndicate Operations, Brookfield Place, 200 Vesey Street, 8th Floor, New York, NY 10281, Phone: (866) 375-6829, Email: [email protected]
- UBS Investment Bank: Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, Phone: (833) 481-0269
- Wells Fargo Securities, LLC: Attn: WFS Customer Service, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Phone: (800) 645-3751, Email: [email protected]
Legal Disclaimer
This announcement does not constitute an offer to sell or a solicitation to purchase securities in any jurisdiction where such activities would be considered unlawful. The securities offering is subject to registration and qualification under applicable laws and regulations in relevant jurisdictions.
Triton International: A Market Leader in Container Leasing
As a premier provider of intermodal container leasing, Triton International continues to strengthen its market presence through strategic investments and capital initiatives. With a global fleet and robust financial foundation, the Company remains committed to delivering value for shareholders and meeting the evolving demands of the shipping and logistics industry.
About Triton International Limited
Triton International Limited is the world’s largest lessor of intermodal freight containers. With a container fleet of approximately 7 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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