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Kaye Scholer Represents Trinity Industries in $355,000,000 Railcar Operating Lease Securitiz…

May 24, 2006

Kaye Scholer represented Trinity Industries, Inc. and its wholly-owned subsidiaries, Trinity Rail Leasing V L.P. ("TRL-V") and Trinity Industries Leasing Company ("TILC"), in the closing on May 24 of TRL-V's issuance of $355,000,000 in Secured Railcar Equipment Notes, Series 2006-1. The Notes represent a long-term fixed-rate refinancing of approximately $443,000,000 (appraised value) of railcars leased to end-users under operating leases originated by TILC. The Notes were issued at a fixed rate of 5.90% with a rating of “Aaa” by Moody's and “AAA” by S&P, and are secured by a financial guaranty insurance policy issued by Ambac Assurance Corporation.

The Kaye Scholer team included William Fellerhoff, Lauretta Moran, Daniel Hartnett, Willys Schneider and David Sausen.

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