GATX CORP (GATX) Form 424B5 — Nov 3, 2026
GATX Corporation priced a $300 million offering of 5.950% senior notes due November 15, 2036, at 99.789% of par, with net proceeds of approximately $296.5 million earmarked for general corporate purposes. The offering is led by BofA Securities, Citigroup, Morgan Stanley and PNC Capital Markets, with settlement expected on November 6, 2026. The notes rank equally with GATX's other senior unsecured debt and carry a change-of-control put at 101% of principal. For equity holders, the deal is incremental fixed-rate borrowing at a time when GATX is absorbing the Wells Fargo railcar fleet through its GABX joint venture with Brookfield, which already carries roughly $2.86 billion of guaranteed debt.
Key figures
- Debt Amount
- 300000000
- Interest Rate
- 5.95
- Maturity Date
- 2036-11-15
- Gross Proceeds
- 299367000
- Offering Price
- 99.789% of principal
- Gabx JVDebt
- $2.86 billion aggregate principal (as of September 30, 2026)
- Par Call Date
- 2036-08-15
- Gabx Revolver
- $250 million revolving credit facility, undrawn
- Settlement Date
- 2026-11-06
- Offering Expenses
- 950500
- Net Proceeds Estimate
- 296500000
- Underwriting Discount
- 1950000
- Proceeds Before Expenses
- 297417000
- Change Of Control Put Price
- 101% of principal
AI analysis
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