HAMILTON, Bermuda, July 29, 2019 /PRNewswire/ -- Textainer
Group Holdings Limited (NYSE:TGH) ("Textainer"), one of the world's
largest lessors of intermodal containers, today announced that
Textainer Marine Containers II Limited ("TMCL II"), an indirect,
wholly-owned subsidiary of the Company, completed an amendment to
extend the term and lower pricing on its $1.2 billion warehouse facility used to acquire
intermodal containers.
The facility incorporates a three-year revolving period that was
extended to July 2022. If not refinanced or renewed following
the three-year revolving period, the facility will partially
amortize over the following four years and then mature on
July 2026. Pricing on the facility
consists of a spread over the London Interbank Offered Rate
(LIBOR). The spread was reduced from 1.90% to 1.75%.
"We are pleased with the successful extension of our warehouse
facility and the continued support of our bank group. The
attractive terms and pricing of this facility improves Textainer's
capital structure and flexibility to competitively pursue
additional intermodal container investment," 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 more than 3 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, dry freight specials, and refrigerated
intermodal containers. We also lease tank containers through our
relationship with Trifleet Leasing and are the primary 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 lease fleet, we buy older
containers from our shipping line customers for trading and resale.
We sold an average of almost 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 depots worldwide.
Contact Information
Investor Relations
+1 415-658-8333
investor_relations@textainer.com
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SOURCE Textainer Group Holdings Limited