The Greenbrier Companies, Inc., an international supplier of equipment and services to global freight transportation markets, announced the renewal and extension of three bank facilities totaling over $1 billion. Greenbrier successfully renewed and extended its $600 million domestic revolving facility and $292 million term loan five years while its Greenbrier Leasing subsidiary's non-recourse $200 million term loan was renewed and extended six years. Following this activity, Greenbrier has no material debt maturing in the next five years and staggered maturities beginning in 2026 and into 2028.

William A. Furman, Chairman and CEO said, "I would like to thank Greenbrier's bankers, including Bank of America, N.A., for their strong and steady support. Extending Greenbrier's banking facilities to maintain our strong liquidity profile has been a critical part of our strategy for managing the business through the pandemic and into recovering markets. During the last five months, Greenbrier has refinanced nearly $1.5 billion of debt, almost doubling the tenor of our debt by extending maturities into 2028."

Furman added, "With a debt-to-equity ratio of approximately 1:1 and dividends paid to shareholders for 29 consecutive quarters, Greenbrier has prudently managed capital to maximize shareholder returns. Expansion of the GBX Leasing platform continues through Greenbrier's purposeful approach to capital deployment that balances equity and non-recourse debt in rail fleet financings.  Combined with momentum in our other business units, these factors position Greenbrier well as the economy and our markets continue to recover."