HAMILTON, Bermuda--(BUSINESS WIRE)--Sep. 6, 2017-- Textainer Group Holdings Limited (NYSE:TGH) ("Textainer" or the “Company”), 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, closed a refinancing to extend the term and lower the interest rate on its $1.2 billion warehouse financing facility used to acquire intermodal containers.

The facility incorporates a three-year revolving period that was extended to August 2020. If not refinanced or renewed following the three-year revolving period, the facility will partially amortize over the following four years and then mature. Pricing on the facility consists of a spread over the London Interbank Offered Rate (LIBOR). The spread was reduced from 2.25% to 1.90%.

“The warehouse facility is a key financing vehicle and the refinanced terms improve our funding costs and provide capacity for increased fleet growth in a very strong market,” commented Hilliard C. Terry, III, Textainer Executive Vice President and Chief Financial Officer.

The existing syndicate of lenders, consisting of Wells Fargo Bank, National Association; ABN AMRO Capital USA LLC; Bank of America; ING Bank Belgium NV/SA, N.A.; Royal Bank of Canada; SunTrust Bank; and KeyBank National Association, is joined by the addition of PNC Bank, National Association; Fifth Third Bank; and Everbank Commercial Finance Inc.

“We value the partnership and support of our new and long term banking relationships,” concluded Mr. Terry.

About Textainer Group Holdings Limited

Textainer has operated since 1979 and is one of the world’s largest lessors of intermodal shipping containers with a total of 2.1 million containers representing 3.2 million TEU in our owned and managed fleet. We lease containers to approximately 320 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 more than 120,000 containers per year for the last five years to more than 1,400 customers making us one of the largest sellers of used containers. Textainer operates via a network of 14 offices and approximately 500 depots worldwide.

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Source: Textainer Group Holdings Limited

Textainer Group Holdings Limited
Hilliard C. Terry, III, +1 415-658-8214
Executive Vice President and Chief Financial Officer
ir@textainer.com