Triton International Completes $150M Preference Share Offering
Ticker: TRTN-PG · Form: 6-K · Filed: Feb 6, 2025 · CIK: 1660734
| Field | Detail |
|---|---|
| Company | Triton International Ltd (TRTN-PG) |
| Form Type | 6-K |
| Filed Date | Feb 6, 2025 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $25.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, preferred-stock, offering
TL;DR
Triton just closed a $150M preferred stock deal. Bullish.
AI Summary
On February 6, 2025, Triton International Limited completed an offering of 6,000,000 of its 7.625% Series F Cumulative Redeemable Perpetual Preference Shares. Each share has a par value of $0.01 and a liquidation preference of $25.00.
Why It Matters
This offering provides Triton International with additional capital, potentially strengthening its financial position and ability to fund future operations or acquisitions.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of a completed share offering, with no immediate negative implications.
Key Numbers
- $150.0M — Preference Shares Offering (6,000,000 shares * $25.00 liquidation preference)
- 7.625% — Dividend Rate (Annual dividend on Series F Preference Shares)
Key Players & Entities
- Triton International Limited (company) — Registrant
- February 6, 2025 (date) — Offering completion date
- 6,000,000 (dollar_amount) — Number of shares offered
- 7.625% (dollar_amount) — Dividend rate of preference shares
- $25.00 (dollar_amount) — Liquidation preference per share
FAQ
What is the total value of the completed offering?
The total value of the offering is approximately $150 million, calculated from 6,000,000 shares with a liquidation preference of $25.00 each.
When was the offering of the Series F Cumulative Redeemable Perpetual Preference Shares completed?
The offering was completed on February 6, 2025.
What is the dividend rate for the Series F Cumulative Redeemable Perpetual Preference Shares?
The dividend rate is 7.625%.
What is the par value and liquidation preference of each share offered?
Each share has a par value of $0.01 and a liquidation preference of $25.00.
What form is this filing?
This filing is a Form 6-K, a report of a foreign private issuer.
Filing Stats: 626 words · 3 min read · ~2 pages · Grade level 11 · Accepted 2025-02-06 11:32:25
Key Financial Figures
- $0.01 — Perpetual Preference Shares, par value $0.01 per share and with a liquidation prefer
- $25.00 — re and with a liquidation preference of $25.00 per share (the Series F Preference Shar
Filing Documents
- d827305d6k.htm (6-K) — 14KB
- d827305dex11.htm (EX-1.1) — 226KB
- d827305dex41.htm (EX-4.1) — 61KB
- d827305dex51.htm (EX-5.1) — 48KB
- d827305dex991.htm (EX-99.1) — 11KB
- g827305g00a01.jpg (GRAPHIC) — 22KB
- g827305g0205064457512.jpg (GRAPHIC) — 3KB
- g827305g0205065027657.jpg (GRAPHIC) — 2KB
- 0001193125-25-021487.txt ( ) — 398KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 1.1 Underwriting Agreement dated January 30, 2025, by and between Triton International Limited and Morgan Stanley & Co. LLC, BofA Securities, Inc., RBC Capital Markets, LLC, UBS Securities LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters listed in Schedule A thereto. 4.1 Certificate of Designations of 7.625% Series F Cumulative Redeemable Perpetual Preference Shares of Triton International Limited. 5.1 Opinion of Appleby (Bermuda) Limited regarding the validity of the Series F Preference Shares. 23.1 Consent of Appleby (Bermuda) Limited (included in Exhibit 5.1). 99.1 Press Release dated January 30, 2025. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. TRITON INTERNATIONAL LIMITED Date: February 6, 2025 By: /s/ Carla L. Heiss Name: Carla L. Heiss Title: Senior Vice President, General Counsel and Secretary