HAMILTON, Bermuda, Aug. 17, 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 the pricing on August 16, 2021 of its public offering of
6,000,000 depositary shares, each representing a 1/1,000th interest
in a share of its 6.250% Series B Cumulative Redeemable Perpetual
Preference Shares, par value $0.01
per share and $25,000 liquidation
preference per share (equivalent to $25.00 per depositary share), for an aggregate
public offering price of $150,000,000. The 6.250% dividend rate on
the Series B Cumulative Redeemable Perpetual Preference Shares is
fixed for life and does not reset. The offering is expected to
close on or about August 23, 2021,
subject to satisfaction of customary closing conditions. Textainer
intends to apply to list the depositary shares on the New York
Stock Exchange ("NYSE") under the ticker symbol "TGH PRB" and, if
the application is approved, expects trading in the depositary
shares to begin within 30 days after the depositary shares are
first issued.
Textainer intends to use the net proceeds from the offering for
general corporate purposes, including the purchase of additional
intermodal containers, repurchasing outstanding common
shares and repaying or
repurchasing outstanding indebtedness. RBC Capital Markets, LLC,
UBS Securities LLC, Keefe, Bruyette & Woods, A Stifel
Company and B. Riley Securities, Inc. are acting as joint
book-running managers for the offering.
The depositary shares are being offered pursuant to an effective
shelf registration statement that has previously been filed with
the Securities and Exchange Commission (the "SEC"). Any offer, or
solicitation to buy, if at all, will be made solely by means of a
prospectus and related prospectus supplement, as may be
supplemented by any free writing prospectus, filed with the SEC.
You may obtain these documents without charge from the SEC at
www.sec.gov. Alternatively, you may request copies of these
materials from RBC Capital Markets, LLC by telephone at
1-866-375-6829, UBS Securities LLC by telephone at 1-888-827-7275,
Keefe, Bruyette & Woods, A Stifel Company by telephone
at 1-800-966-1559, or B. Riley Securities, Inc. by telephone at
1-703-312-9580.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is one of the world's
largest lessors of intermodal containers with approximately 4.1
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, and we are one of the largest and most
reliable suppliers of new and used containers. Textainer operates
via a network of 14 offices and approximately 400 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).
Important Cautionary Information Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of U.S. securities laws. Forward-looking statements
include statements that are not statements of historical facts and
include, without limitation, statements regarding: the expected
timing and completion of the issuance of the Series B Preference
Shares and depositary shares, the expected use of proceeds of the
sale of the Series B Preference Shares and depositary shares, and
the anticipated listing of the Series B Preference Shares on the
NYSE. Readers are cautioned that these forward-looking statements
involve risks and uncertainties, are only predictions and may
differ materially from actual future events or results. For a
discussion of some of these risks and uncertainties, see Item 3
"Key Information— Risk Factors" in Textainer's Annual Report on
Form 20-F filed with the Securities and Exchange Commission on
March 18, 2021 and the risks
described in the section entitled "Risk Factors" in the prospectus
supplement related to the offering of the depositary shares.
Textainer's views, estimates, plans and outlook as described
within this document may change subsequent to the release of this
press release. Textainer is under no obligation to modify or update
any or all of the statements it has made herein despite any
subsequent changes Textainer may make in its views, estimates,
plans or outlook for the future.
Source: Textainer Group Holdings Limited
Contact Information
Investor Relations
+1 415-658-8333
ir@textainer.com
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SOURCE Textainer Group Holdings Limited