Greenbrier announces alliance with Mitsubishi UFJ Lease & Finance

|About: The Greenbrier Companies, Inc. (GBX)|By:, SA News Editor

Greenbrier (GBX) +1% premarket on news of an alliance with Mitsubishi UFJ Lease & Finance, which says it plans to acquire a portfolio of ~$1B in leased railcar assets through the alliance over a multi-year period.

Mitsubishi says it already has begun acquisition activities and is expected to have secured more than $100M in railcars by Aug. 31.

GBX says the alliance furthers its strategy to reduce the amount of long-term capital invested in its leasing business while driving more volume through lease underwriting, syndication and asset management.