The Greenbrier Companies, Inc., an international supplier of equipment and services to global freight transportation markets, announced its Greenbrier Leasing subsidiary has entered a new $150 million term loan to finance the continued growth of its leasing fleet.

The new loan is non-recourse to Greenbrier, matures in July 2027 and has terms similar to Greenbrier Leasing's term loan completed in August 2021. Half of the loan amount was drawn at closing and the remaining balance is expected to be utilized in the next six months.

Lorie Tekorius, Chief Executive Officer & President, said, "Liquidity in the current economic environment aligns with our leasing strategy and supports Greenbrier's broader goal to grow the services business. I would like to thank our banking group for their ongoing support of Greenbrier through this transaction.  Importantly, interest rates on Greenbrier's long-term debt are fixed at attractive levels, with no material debt maturities until 2026. Strong liquidity, combined with our new railcar backlog valued at $3.6 billion as of May 31, 2022, and continued high lease fleet utilization, positions Greenbrier well to navigate current macroeconomic conditions."