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TEXTAINER GROUP HOLDINGS LIMITED - Textainer Closes $450 Million Asset Backed Financing

Release Date: 21/08/2020 07:05
Code(s): TXT     PDF:  
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Textainer Closes $450 Million Asset Backed Financing

Incorporated in Bermuda
Company number: EC18896
NYSE share code: TGH
JSE share code: TXT
ISIN: BMG8766E1093
(“Textainer”, “the Company”, “we” and “our””)

Textainer Closes $450 Million Asset Backed Financing

HAMILTON, Bermuda – August 20, 2020 – Textainer Group Holdings Limited (NYSE:TGH; JSE:TXT)
(“Textainer” or “the Company”), one of the world’s largest lessors of intermodal containers, today
announced that Textainer Marine Containers VII Limited ("TMCL VII"), an indirect, wholly-owned
subsidiary of the Company, issued $450 million of Fixed Rate Asset Backed Notes (the “Notes”) to qualified
institutional buyers pursuant to Rule 144A under the Securities Act of 1933 (the "Act") and to non-U.S.
persons in accordance with Regulation S promulgated under the Act. The Notes comprise of $381 million
in Class A and $69 million in Class B Notes rated A(sf) and BBB(sf), respectively, by Standard & Poor’s.
The Notes have a weighted average life of approximately four years and are secured by a pledge of TMCL
VII’s assets. Proceeds from the issuance were used primarily to pay down debt in our secured debt facility,
revolving credit facility and pay in full Textainer’s 2017-1 Notes.

“We are pleased with the high level of investor interest in the issuance, which allowed us to upsize to $450
million during this favorable financing environment. This transaction further enhances our financial
platform with numerous benefits, such as lowering our blended effective interest rate and freeing up
borrowing capacity in our short-term facilities for additional container investments.” 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
approximately 3.5 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, refrigerated intermodal containers, and dry freight specials. We also lease
tank containers through our relationship with Trifleet Leasing and are a 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 fleet, we buy older containers from our shipping line customers for
trading and resale. We sold an average of approximately 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 independent depots worldwide. Textainer has a primary
listing on the New York Stock Exchange (NYSE: TGH) and a secondary listing on the Johannesburg Stock
Exchange (JSE: TXT). Visit for additional information about Textainer.

Source: Textainer Group Holdings Limited

Contact Information
Investor Relations
+1 415-658-8333

21 August 2020

Investec Bank Limited

Date: 21-08-2020 07:05:00
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