The Greenbrier Companies Inc. announced the completion of an offering of railcar asset-backed securities ("ABS") securing long-term financing for its leasing business.

GBX Leasing 2022-1 LLC, an indirect wholly-owned special purpose subsidiary of Greenbrier, issued an aggregate principal amount of $300 million of its Series 2026-1 Class A and Class B Notes ("Notes") with a blended interest rate of 5.2% and a 21/2 year call feature. The Notes are rated "AA" and "A" by S&P Global Ratings, have weighted average lives of approximately 6.7 and 7.0 years, respectively, and are secured by railcars and associated operating leases. The securitization will be consolidated on Greenbrier's balance sheet but is non-recourse to Greenbrier.

"The strong demand from investors for this ABS issuance reflects continued market confidence in the performance of Greenbrier's railcar portfolios, supported by stable utilization and predictable cash flows. This transaction's favorable terms indicate the durability of our manufacturing platform and support for our disciplined long-term strategy. We appreciate the ongoing commitment from our financing partners as we grow our business and invest in our railcar fleet," said Lorie L. Tekorius, CEO and President.