09:33 AM EDT, 05/21/2024 (MT Newswires) -- Trinity Industries ( TRN ) said Tuesday it plans to offer an additional $200 million of its 7.750% senior notes due 2028.

The company said it intends to use the net proceeds, along with cash and/or borrowings from its revolving credit facility, to repay its 4.550% senior notes due 2024 and cover related expenses.

Trinity said the new notes will have the same terms as the $400 million senior notes issued in June 2023, bringing the total to $600 million.

Trinity's shares were down 2.4% in early Tuesday trading.

Price: 30.02, Change: -0.73, Percent Change: -2.37