TRAC Intermodal LLC and TRAC Intermodal Corp. in $300 Million Notes Offering

August 9, 2012

Cleary Gottlieb represented TRAC Intermodal LLC and TRAC Intermodal Corp. in a high yield debt offering. TRAC Intermodal LLC and TRAC Intermodal Corp. issued $300 million of 11.000% Senior Secured Notes due 2019. The notes are secured on a second-lien basis and guaranteed by certain of TRAC Intermodal LLC’s wholly-owned subsidiaries. The notes were sold in a Rule 144A / Regulation S offering with registration rights. The transaction priced on August 2 and closed on August 9.

Trac Intermodal is the largest intermodal chassis solutions provider, measured by total assets, for domestic and international transportation companies in North America. Trac Intermodal’s active fleet consists of approximately 245,000 chassis and containers. Trac Intermodal’s operations include long term leasing, short term rentals through extensive neutral pool programs and pool/fleet management.

TRAC Intermodal LLC, TRAC Intermodal Corp. and Trac Intermodal 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.