Greenbrier acquired a 100% interest in GBX Leasing, its railcar leasing joint venture with Longwood. Greenbrier acquired Longwood’s minority interest in GBXL’s portfolio of leased railcars, manufactured primarily by Greenbrier. GBXL now operates as a wholly-owned subsidiary of Greenbrier. Since its inception in early 2021, GBXL has delivered stable and tax-advantaged cash flows designed in part to complement the more cyclical revenues derived from Greenbrier’s new railcar manufacturing. In turn, GBXL’s leased railcar portfolio led to its first-ever issuance of railcar asset-backed securities in February 2022. The ABS notes were fully subscribed at issuance at a blended interest rate of 2.9%.
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Published first on TheFly
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