TTX Co., a U.S. railcar and freight services provider, is preparing to sell $150 million in 30-year debt that is expected to price late Thursday, according to a person familiar with the sale.

The bonds are expected to be rated Baa1 by Moody's Investors Service and A+ by Standard & Poor's.

Citigroup Inc. (C) and Credit Suisse Group (CS, CSGN.VX) are leading the sale, with proceeds expected to be used for general corporate purposes including repayment of short-term debt and for equipment purchases.

Price talk on the bonds is not yet out.

-By Katy Burne, Dow Jones Newswires; 212-416-2213; Katy.Burne@dowjones.com.
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