Company: TRTN-PA
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001660734-25-000004
Chunk: 41

Company: Triton International Ltd
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 41
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                                   1,680.0  
  Total unsecured debt financings                                        4,565.0                                   5,480.0  
  Total debt financings                                                  7,657.7                                   9,637.7  
  Unamortized debt costs                     (48.7)                                                                         
  Unamortized debt premiums & discounts      (3.3)                                                                          
  Debt, net of unamortized costs             $                           7,605.7      $                            9,637.7  

The maximum borrowing levels depicted in the table above may not reflect the actual availability under all of the credit facilities. Certain of these facilities are governed by either borrowing bases or an unencumbered asset test that limits borrowing capacity. Based on those limitations, the availability under the ABS warehouse and the revolving credit tranche under the credit facility at December 31, 2024 was approximately $827.0 million.

As of December 31, 2024, we had a combined $6,699.0 million of total debt on facilities with fixed interest rates or floating interest rates that have been synthetically fixed through interest rate swap contracts. This accounts for 87.5% of our total debt.

For additional information on our debt, refer to Note 7 - "Debt" in the Notes to the Consolidated Financial Statements.

Debt Activity

In the fourth quarter of 2024, in connection with the TCF VIII Distribution, the Company cancelled the related TCF VIII standby letters of credit, and funded restricted cash to be held by the indenture trustee in the amount of $21.3 million in order to satisfy the restricted cash balance requirements equal to nine months of interest expense on the TCF VIII ABS facility. As of December 31, 2024, the current value of the remaining standby letters of credit for our ABS facilities, as amended, is $31.9 million. Refer to Note 16 - " Related Party Transactions" for additional details regarding the TCF VIII Distribution.

During the third quarter of 2024, the Company amended and restated its existing $2,000.0 million revolving credit facility to, among other things, add a new $1,750.0 million term loan tranche under the credit facility. In conjunction with the addition of the term loan tranche under the credit facility, the Company terminated the former term loan credit facility. The amendment

and restatement also transitioned the reference rate from term to daily Secured Overnight