Company: TRTN-PA
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001660734-25-000004
Chunk: 116

Company: Triton International Ltd
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 116
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 Financings                                                                                                                                                                                                                      
  Senior notes                                                                           1,800,000                                        2.82      April 2026          March 2032                                                    2,300,000  
  Credit facility:                                                                                                                                                                                                                               
  Revolving credit tranche                                                               1,085,000                                        5.76      July 2029           July 2029                                                       930,000  
  Term loan tranche                                                                      1,680,000                                        5.76      July 2029           July 2029                                                     1,468,496  
  Total unsecured debt financings                                                        4,565,000                                                                                                                                    4,698,496  
  Total debt financings                       $                                          7,657,700                                                                                         $                                          7,518,328  
  Unamortized debt costs                                                                 ( 48,743)                                                                                                                                    ( 43,924)  
  Unamortized debt premium & discounts        ( 3,237)                                                                                                                                     ( 3,770)                                              
  Debt, net of unamortized costs              $                                          7,605,720                                                                                         $                                          7,470,634  

Securitization Term Instruments

Under the Company's ABS facilities, indirect wholly owned subsidiaries of the Company enter into debt agreements for ABS term instruments, including ABS notes. These subsidiaries are intended to be bankruptcy remote so that such assets are not available to creditors of the Company or its affiliates until and unless the related secured borrowings have been fully discharged. These transactions do not meet accounting requirements for sales treatment and are recorded as secured borrowings.

The Company’s borrowings under the ABS facilities amortize in monthly installments, typically in level payments over five or more years. These facilities provide for an advance rate against the net book values of designated eligible equipment. The net book values for purposes of calculating eligible equipment is determined according to the related debt agreement and may be different than those calculated per GAAP. The Company is required to maintain restricted cash balances on deposit in designated bank accounts equal to nine months of interest expense on certain securitized term instruments.

In the second and third quarters of 2024, the Company issued a series of ABS fixed-rate notes in the amounts of $ 450.0 351.9 5.55 5.63

In the first quarter of 2024, the Company obtained $ 57.0 18.7 38.3

F-19

TRITON INTERNATIONAL LIMITED

NOT