Textainer extends and reprices its US$1,2 billion warehouse facility
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
TEXTAINER EXTENDS AND REPRICES ITS US$1,2 BILLION WAREHOUSE FACILITY
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 47,49% interest:
“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.”
Trencor Services (Pty) Ltd
29 July 2019
Rand Merchant Bank (A division of FirstRand Bank Limited)