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TRENCOR:  705   0 (0.00%)  01/01/1970 00:00

TRENCOR LIMITED - Trencors Textainer increases revolving credit facility to US$700 million

Release Date: 26/06/2013 09:50
Code(s): TRE     PDF:  
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Trencor’s Textainer increases revolving credit facility to US$700 million

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor”)

TRENCOR’S TEXTAINER INCREASES REVOLVING CREDIT FACILITY TO
US$700 MILLION
We draw attention to the following news release issued by Textainer Group Holdings
Limited, in which Trencor has a 48,4% beneficiary interest:

“Hamilton, Bermuda - (Business Wire) - Jun. 25, 2013 - Textainer Group Holdings
Limited (NYSE: TGH) (“Textainer” or the “Company”), the world’s largest lessor of
intermodal containers based on fleet size, today announced that Textainer Limited, which
is a wholly-owned subsidiary of the Company, utilized an accordion feature in its five-
year revolving credit agreement to expand the facility from $600 million to $700 million.
“This facility increase provides Textainer with additional liquidity, enabling us to
competitively meet our customers’ container leasing needs,” commented Hilliard C.
Terry, III, Textainer Executive Vice President and Chief Financial Officer. “This facility
is very competitively priced at LIBOR plus 1.5% and is the most flexible of our debt
facilities. The expanded size of this facility, coupled with the recent re-pricing of our $1.2
billion warehouse and the refinancing of the facility for our TAP subsidiary, are evidence
of our continuing successful efforts to increase liquidity and reduce funding costs.”
The proceeds from borrowings under the revolving credit agreement are used to purchase
containers and for general corporate purposes. The credit agreement was originally
established in September 2012 and expires in 2017. The interest rate under the credit
agreement is a spread over the London Interbank Offered Rate (“LIBOR”) which varies
based on leverage and is currently LIBOR plus 150 basis points.
BNP Paribas, joined the existing group of lenders and Citibank, N.A. increased its
existing lending commitment. The group of lenders includes: Bank of America, N.A;
Wells Fargo Bank, N.A.; Royal Bank of Canada; Union Bank, N.A.; HSBC Bank;
KeyBank, N.A.; JPMorgan Chase Bank, N.A.; Citibank, N.A.; DBS Bank Ltd.; Sovereign
Bank, N.A.; First Hawaiian Bank; Branch Bank and Trust Company; and Umpqua Bank.
Bank of America, N.A. also serves as Administrative Agent on the revolving credit
facility.

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

Trencor Services (Pty) Ltd
Secretaries
26 June 2013

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

www.trencor.net

Date: 26/06/2013 09:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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