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The Longwood Group Announces Railcar Leasing Joint Venture Inaugural ABS Financing

·2 min read

Financing supports continued growth in 2022

CHICAGO, Feb. 14, 2022 /PRNewswire/ -- The Longwood Group, LLC ("Longwood"), a Chicago-based asset management and advisory services firm, today announced its inaugural railcar asset-backed securitization and long-term financing for GBX Leasing, a special purpose subsidiary and joint venture between Longwood and The Greenbrier Companies, Inc. (NYSE:GBX, "Greenbrier"), a leading international supplier of equipment and services to global freight transportation markets. The financing ("GBXL 2022"), which offered in aggregate $323 million in Class A and B Notes, was securitized by $413 million in leased railcars and received investment-grade credit ratings from two rating agencies.

Company Logo (PRNewsfoto/The Longwood Group)
Company Logo (PRNewsfoto/The Longwood Group)

"We are extremely pleased with the completion of GBX Leasing's inaugural long-term financing which supports the continued growth of the leased railcar portfolio," said D. Stephen Menzies, Longwood's Chief Executive Officer, and Chairman and Chief Executive Officer of GBX Leasing. "With the benefit of deep transaction expertise at Longwood and Greenbrier, GBX Leasing has demonstrated its ability to access the capital markets in a very competitive manner. GBX Leasing more than doubled the expected investment volume in its first year of operation because of strong origination activity and a successful secondary market acquisition. We expect to continue a high level of investment in 2022 through our committed long-term supply agreement with Greenbrier. The strong response by investors to participate in our inaugural securitization speaks to the capital available to grow GBX Leasing."

For additional information regarding the GBXL 2022 financing, click here.

About The Longwood Group, LLC
The Longwood Group is an asset management and advisory services firm specializing in services to institutional investors and financial sponsors seeking investment in transportation equipment and services businesses. Longwood uses its transportation industry experience, extensive asset knowledge, and financing expertise to identify and develop attractive proprietary investment opportunities for its financial partners. For more information on The Longwood Group, please visit www.longwoodgrp.com.

About Greenbrier
Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Through its wholly owned subsidiaries and joint ventures, Greenbrier designs, builds and markets freight railcars and marine barges in North America, Europe and Brazil. We are a leading provider of freight railcar wheel services, parts, repair, refurbishment and retrofitting services in North America through our wheels, repair & parts business unit. Greenbrier manages 445,000 railcars and offers railcar management, regulatory compliance services and leasing services to railroads and other railcars owners in North America. GBX Leasing ("GBXL") is a special purpose subsidiary that owns and manages a portfolio of leased railcars that originate primarily from Greenbrier's manufacturing operations. Together, GBXL and Greenbrier own a lease fleet of nearly 12,500 railcars. Learn more about Greenbrier at www.gbrx.com.

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SOURCE The Longwood Group