DALLAS--(BUSINESS WIRE)--Trinity Industries, Inc. (NYSE:TRN) announced today that Trinity Industries Leasing Company (“TILC”) has issued the release of its Green Financing Framework, supported by a second-party opinion from Sustainalytics, a Morningstar Company and a globally-recognized provider of ESG research, ratings and data.
“As part of our commitment to sustainability, Trinity takes our commitment to reducing our environmental impact seriously as a company and as an industry,” said Jean Savage, Chief Executive Officer and President at Trinity Industries. “TILC’s Green Financing Framework is an important step to contributing to a more resource-efficient economy, embedding climate change mitigation into our business strategy, and better facilitating our customers’ alignment in confronting these growing challenges.”
The Green Financing Framework enables TILC to issue green financing instruments, including green non-recourse ABS bonds and green loans, supported by green eligible assets. TILC will manage and report on eligible projects and assets, in line with the Green Bond Principles, 2018 and the Green Loan Principles, 2020. Under the newly issued framework, currently eight of TILC’s outstanding debt financings, representing over $4 billion of railcar-related debt, meet the criteria and qualify for the Green Financing designation. Crédit Agricole CIB acted as Trinity’s Green Structuring Advisor and will continue to support Trinity as a long-term partner in its sustainable finance efforts.
“TILC has been a pioneer in developing the railcar asset-backed securitization market since 2001, and we are pleased to, once again, be leading the charge for the North American railcar industry as the first railcar lessor to publish a Green Financing Framework for railcar assets,” said Eric Marchetto, Executive Vice President and Chief Financial Officer. “Railcars are a sustainable mode of transportation and play an important role in the industrial supply chain by transporting our country’s most important products across the North American continent in an environmentally-friendly manner. We are proud of the role that Trinity’s railcars play in lowering the overall environmental footprint of the transportation industry.”
Both TILC’s Green Financing Framework and the second-party opinion from Sustainalytics can be found on the “Green Financing” portion of the Company’s Sustainability website.
About Trinity Industries
Trinity Industries, Inc., headquartered in Dallas, Texas, owns businesses that are leading providers of rail transportation products and services in North America. Our rail-related businesses market their railcar products and services under the trade name TrinityRail®. The TrinityRail platform provides railcar leasing and management services, as well as railcar manufacturing, maintenance and modifications. Trinity also owns businesses engaged in the manufacture of products used on the nation’s roadways and in traffic control, as well as a logistics business that primarily provides support services to Trinity. Trinity reports its financial results in three principal business segments: the Railcar Leasing and Management Services Group, the Rail Products Group, and the All Other Group. For more information, visit: www.trin.net.
Some statements in this release, which are not historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trinity's estimates, expectations, beliefs, intentions or strategies for the future, and the assumptions underlying these forward-looking statements, including, but not limited to, future financial and operating performance, future opportunities and any other statements regarding events or developments that Trinity believes or anticipates will or may occur in the future, including the potential financial and operational impacts of the COVID-19 pandemic. Trinity uses the words “anticipates,” “assumes,” “believes,” “estimates,” “expects,” “intends,” “forecasts,” “may,” “will,” “should,” “guidance,” “projected,” “outlook,” and similar expressions to identify these forward-looking statements. Forward-looking statements speak only as of the date of this release, and Trinity expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Trinity’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, except as required by federal securities laws. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from historical experience or our present expectations, including but not limited to risks and uncertainties regarding economic, competitive, governmental, and technological factors affecting Trinity’s operations, markets, products, services and prices, and such forward-looking statements are not guarantees of future performance. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and “Forward-Looking Statements” in Trinity’s Annual Report on Form 10-K for the most recent fiscal year, as may be revised and updated by Trinity’s Quarterly Reports on Form 10-Q, and Trinity’s Current Reports on Form 8-K.