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Trinity Industries Leasing Co., the wholly owned leasing and management services subsidiary of Trinity Industries Inc., has completed the long-term financing of a leased rail-car portfolio in an asset-backed, leveraged lease transaction.

Proceeds were used primarily to retire $217.5 million in existing debt.

"We are pleased with the completion of this long-term financing and with our demonstrated ability to access the long-term capital market," said John Adams, Trinity's executive vice president, in a Nov. 17 prepared statement.