Maturities extended into 2030
Facilities maintain favorable pricing and
terms
LAKE
OSWEGO, Ore., May 27, 2025
/PRNewswire/ -- The Greenbrier Companies, Inc. (NYSE: GBX)
("Greenbrier"), a leading international supplier of equipment and
services to global freight transportation markets, today announced
the renewal and extension of two bank facilities totaling
$850 million completed on
May 21, 2025. Greenbrier renewed its
$600 million domestic revolving
facility and $250 million term loan,
with favorable pricing and terms, extending both instruments by
five years until 2030. With this activity completed, remaining
long-term debt maturities are staggered into 2030, with the next
significant debt tranche maturing in 2027.
Lorie Tekorius, CEO and
President, said, "The renewal and extension of these facilities and
the continued expansion of our Leasing platform demonstrate
Greenbrier's purposeful approach to debt management and capital
deployment. Over the last two years, we have thoughtfully realigned
our debt profile to feature more non-recourse borrowing, following
two successful Asset Backed Security offerings in 2022 and 2023 and
the repayment of $180 million of
recourse debt. This maximizes shareholder returns through a
balanced approach to equity and non-recourse debt."
Tekorius added, "I appreciate the ongoing support from
Greenbrier's banking group. A healthy liquidity position is
critical to any operating business and a cornerstone of
Greenbrier's strategy to navigate various market conditions
successfully and act opportunistically when markets are
strong."
About Greenbrier
Greenbrier, headquartered in Lake
Oswego, Oregon, is a leading international supplier of
equipment and services to global freight transportation markets.
Through its wholly-owned subsidiaries and joint ventures,
Greenbrier designs, builds and markets freight railcars in
North America, Europe and Brazil. We are a leading provider of freight
railcar wheel services, parts, maintenance and retrofitting
services in North America.
Greenbrier owns a lease fleet of approximately 16,600 railcars that
originate primarily from Greenbrier's manufacturing operations.
Greenbrier offers railcar management, regulatory compliance
services and leasing services to railroads and other railcar owners
in North America. Learn more about
Greenbrier at www.gbrx.com.
Forward-Looking Statements
This press release may contain forward-looking statements,
including statements that are not purely statements of historical
fact. Greenbrier uses words, and variations of words, such as
"affect," "anticipate," "approximately," "are," "backlog,"
"continue," "expansion," "leading," "may," "maintain," "momentum,"
"position," "result," "strategy," "strong," and similar expressions
to identify forward-looking statements. These forward-looking
statements include, without limitation, statements about our
guidance and outlook, backlog and other orders, leasing
performance, leasing strategy, financing, cash flow, tax treatment,
and other information regarding future performance and strategies
and appear throughout this press release. These forward-looking
statements are not guarantees of future performance and are subject
to certain risks and uncertainties that could cause actual results
to differ materially from the results contemplated by the
forward-looking statements. Factors that might cause such a
difference include, but are not limited to, the following: an
economic downturn and economic uncertainty; changes to tariffs or
import duties, including retaliatory tariffs; changes in
macroeconomic policies; inflation (including rising energy prices,
interest rates, wages and other escalators) and policy reactions
thereto (including actions by central banks); disruptions in the
supply of materials and components used in the production of our
products; labor disputes; loss of market share to other modes of
freight shipment; and the war in Ukraine and related events. Our backlog of
railcar units and other orders not included in backlog are not
necessarily indicative of future results of operations. Certain
orders in backlog are subject to customary documentation which may
not occur. More information on potential factors that could cause
our results to differ from our forward-looking statements is
included in the Company's filings with the SEC, including in the
"Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" sections of the
Company's most recently filed periodic report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q. Except as otherwise
required by law, the Company assumes no obligation to update any
forward-looking statements or information, which speak as of their
respective dates. Readers are cautioned not to place undue reliance
on these forward-looking statements, which reflect management's
opinions only as of the date hereof.
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SOURCE The Greenbrier Companies, Inc.