CHICAGO, Feb. 1 /PRNewswire-FirstCall/?-- GATX Corporation (NYSE: GMT)
announced today that it completed a private offering of $175 million of senior
unsecured convertible notes issued under Rule 144A. The offering was
increased from $150 million to $175 million as a result of the underwriters
exercising the over-allotment option due to strong investor demand.
The 5-year notes carry a 7.50% coupon and may be convertible into GATX
Corporation common stock at a price of $34.09 per share, a 16% premium over
the common stock closing price on January 28, 2002. The net proceeds of the
offering will be used by GATX Financial Corporation, a wholly owned subsidiary
of GATX Corporation, for repayment of indebtedness and general corporate
purposes.
The notes have not been registered under the Securities Act of 1933 and
may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the Securities Act
of 1933. It is anticipated that a registration statement will be filed under
the Securities Act of 1933 to permit the resale of the notes and the
underlying shares of common stock issuable upon conversion.
COMPANY DESCRIPTION
GATX Corporation (NYSE: GMT) is a specialized finance and leasing company.
It uniquely combines asset knowledge and services, structuring expertise,
creative partnering and risk capital to provide business solutions to
customers and partners worldwide. GATX specializes in railcar and locomotive
leasing, aircraft operating leasing, information technology leasing, venture
finance and specialty finance.
Investor, corporate information and press releases may be found at
http://www.gatx.com . A variety of current financial information, historical
financial information, press releases and photographs are available at this
site.
SOURCE GATX Corporation
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Related links:
http://www.gatx.com
Company News On-Call:
http://www.prnewswire.com/comp/105121.html
CONTACT:
Robert C. Lyons of GATX Corporation,
+1-312-621-6633
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