The proceeds from the issuance of the Notes were primarily used to pay down existing bank facilities, enabling the Company to acquire new intermodal shipping containers and related assets. The Notes are secured by a pledge of TMCL V's assets.
The Notes were purchased by both new and repeat investors that
participated in our recent offering in May.
“This is our second ABS offering in just two months and follows a significant recent improvement in the container leasing market, coupled with strong capital markets conditions. We were pleased to complete this Notes issuance, which represented one of the largest ABS transactions in the history of our industry. This further validates our position as one of the industry’s leading intermodal container lessors and positions us to take advantage of the strong lease-out market,” commented Hilliard C. Terry, III, Textainer’s Executive Vice President and Chief Financial Officer.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any of the Notes, and shall not constitute an offer, solicitation or sale of the Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
The Notes will not be registered under the Securities Act or any state
securities laws and may not be offered or sold in the
Textainer Group Holdings Limited
Hilliard C. Terry, III, +1 415-658-8214
Executive Vice President and Chief Financial Officer