Cleary Gottlieb represented TRAC Intermodal Corp. and TRAC Intermodal LLC in their registered A/B exchange offer of $300 million aggregate principal amount of their unregistered 11.0% Senior Notes due 2019. The exchange offer closed on July 10.
TRAC Intermodal is the world’s largest provider of marine and domestic chassis, measured by total assets, operating throughout the United States, Canada and Mexico. TRAC Intermodal provides long term chassis leasing and short term rentals through extensive chassis pool programs and pool/fleet management through the utilization of its proprietary PoolStat® system. TRAC Intermodal’s fleet consists of approximately 300,000 chassis. TRAC Intermodal has a broad operating footprint with 546 marine, 152 domestic and 64 depot locations across North America and is the leader in providing chassis solutions to the intermodal industry.
TRAC Intermodal LLC and TRAC Intermodal Corp. are Fortress Investment Group portfolio companies. Fortress is a leading global alternative assets manager with extensive experience and expertise in the leasing of intermodal assets.
