HAMILTON, Bermuda, Feb. 10, 2021 /PRNewswire/ -- Textainer Group
Holdings Limited (NYSE:TGH; JSE: TXT) ("Textainer", "we", and
"our"), one of the world's largest lessors of intermodal
containers, today announced that Textainer Marine Containers VII
Limited ("TMCL VII"), an indirect, wholly-owned subsidiary of the
Company, issued $550 million of
fixed-rate asset-backed notes, comprised of $523.5 million in Class A Notes and $26.5 million in Class B Notes (collectively the
"Notes").
The Notes were issued to qualified institutional buyers pursuant
to Rule 144A under the Securities Act of 1933 (the "Act") and to
non-U.S. persons in accordance with Regulation S promulgated under
the Act. The Class A and Class B Notes were rated A(sf) and
BBB(sf), respectively, by Standard & Poor's. The Notes have a
fixed coupon, a weighted average life of approximately five years
and are secured by a pledge of TMCL VII's assets. Proceeds from the
issuance were used primarily to pay down debt in our bank
facilities.
"We are extremely pleased with the successful issuance of these
Notes, which further bolsters our capacity for organic growth. The
proceeds will free up borrowing capacity in our bank facilities for
incremental container investments. Moreover, we were able to lock
in fixed rate debt at very attractive levels below any of our
existing fixed rate notes,"
commented Michael K. Chan, Textainer
Executive Vice President and Chief Financial Officer.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is one of the world's
largest lessors of intermodal containers with approximately 3.6
million TEU in our owned and managed fleet. We lease containers to
approximately 250 customers, including all of the world's leading
international shipping lines, and other lessees. Our fleet consists
of standard dry freight, refrigerated intermodal containers, and
dry freight specials. We also lease tank containers through our
relationship with Trifleet Leasing and are a supplier of containers
to the U.S. Military. Textainer is one of the largest and most
reliable suppliers of new and used containers. In addition to
selling older containers from our fleet, we buy older containers
from our shipping line customers for trading and resale. We sold an
average of approximately 140,000 containers per year for the last
five years to more than 1,500 customers making us one of the
largest sellers of used containers. Textainer operates via a
network of 14 offices and approximately 500 independent depots
worldwide. Textainer has a primary listing on the New York Stock
Exchange (NYSE: TGH) and a secondary listing on the Johannesburg
Stock Exchange (JSE: TXT). Visit www.textainer.com for additional
information about Textainer.
Contact Information
Investor Relations
+1 415-658-8333
ir@textainer.com
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SOURCE Textainer Group Holdings Limited