Dec 26, 2012
American Railcar Industries Gets $200 Million Loan for Railcar Lease Fleet
American Railcar Industries Inc.?has completed a $199.8 million financing of its railcar lease fleet through its newly formed subsidiary, Longtrain Leasing I LLC.
The debt is secured by a portfolio of railcars and operating leases acquired from American Railcar Industries Inc. by Longtrain, the company said late Friday.
The financing consists of a senior secured delayed draw term loan that matures Feb. 28, 2018. The loan ?allows us to continue to focus on growing our leasing business and funding general corporate obligations while taking advantage of a historically low interest-rate environment,? American Railcar Industries President and CEOJames Cowan?said in a statement.
St. Charles-based American Railcar Industries (Nasdaq: ARII) reported revenue of $519.4 million in 2011.
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Source: St. Louis Business Journal
http://www.bizjournals.com/stlouis/news/2012/12/24/american-railcar-industries-gets-200.html
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