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GATX Extends Credit Agreement, Cuts Costs

GATX Corporation extends credit agreement to 2031, reduces borrowing costs and facility fees. SEC filing details amendment.

Michael Brown
ByMichael Brown- Senior Editor
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GATX Corporation (NYSE:GATX) announced an amendment to its five-year credit agreement, extending the termination date to May 21, 2031.

The amendment reduces borrowing margins: SOFR-based loans now range from 80.5 to 130 basis points, and ABR-based loans from 0 to 30 basis points.

The facility fee is also lowered, ranging from 7 to 20 basis points, tied to GATX's credit rating.

These changes were disclosed in an SEC filing on Form 8-K.

GATX reported Q1 earnings above expectations but missed revenue forecasts.

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