05:33 AM EDT, 05/22/2024 (MT Newswires) -- Trinity Industries ( TRN ) said Tuesday that it has priced its offering of an additional $200 million of its 7.75% senior notes due 2028 at 102.5% of the principal amount.

The additional notes will have the same terms and conditions as the company's existing $400 million of 7.75% senior notes due 2028, which were issued on June 30, 2023.

The company primarily plans to use the net proceeds, together with cash on hand or borrowings under its corporate revolving credit facility, to finance the full repayment of its 4.55% senior notes due 2024.

Once the offering is complete, the company will have $600 million of 7.75% senior notes due 2028 outstanding. The company expects to close the offering on June 5.