Investor Presentaiton
Strong Balance Sheet Positioned for Market Uncertainty
and Opportunistic Deployment
LIQUIDITY
DEBT STRUCTURE
Cash & Equivalents
$121M
Revolver Availability
$279M
Recourse Debt
$523M @~4%(1)
Non-recourse Debt
$4.4B @ N4%(1)
Warehouse Availability
$319M
Expected Tax Refunds
$485M
Solid Liquidity of
$719M(1)
•
•
Low-cost funds
Flexible term structures
No maturities until 2022
•
•
•
CAPITAL LEVERS
Unencumbered Railcars
$1.4B
Pledge to warehouse
Additional assets can be
sold or financed
LTV of 58% for the
wholly-owned lease
portfolio as of 3Q-20(2)
$371M additional financing
priced in October 2020
at 2.52%
Attractive Debt
Structures
Conservative
Capitalization
TRINITY INDUSTRIES
See appendix for footnotes
DELIVERING GOODS for THE GOOD of ALL
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