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TEXTAINER GROUP HOLDINGS LIMITED - Textainer Announces $550 million Asset-Backed Financing

Release Date: 11/02/2021 07:05
Code(s): TXT     PDF:  
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Textainer Announces $550 million Asset-Backed Financing

TEXTAINER GROUP HOLDINGS LIMITED
Incorporated in Bermuda
Company number: EC18896
NYSE share code: TGH
JSE share code: TXT
ISIN: BMG8766E1093
LEI: 529900OHEYRATAFMIT89
(“Textainer”, “the Company”, “we” and “our””)


Textainer Announces $550 million Asset-Backed Financing


HAMILTON, Bermuda – February 10, 2021 – Textainer Group Holdings Limited (NYSE:TGH; JSE:
TXT) (“Textainer”, “we”, and “our”), 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 $550 million of fixed-rate asset-backed notes, comprised of $523.5
million in Class A Notes and $26.5 million in Class B Notes (collectively the “Notes”).

The Notes were issued 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
Class A and Class B Notes were rated A(sf) and BBB(sf), respectively, by Standard & Poor’s. The Notes
have a fixed coupon, a weighted average life of approximately five 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 bank facilities.

“We are extremely pleased with the successful issuance of these Notes, which further bolsters our capacity
for organic growth. The proceeds will free up borrowing capacity in our bank facilities for incremental
container investments. Moreover, we were able to lock in fixed rate debt at very attractive levels below any
of our existing fixed rate notes” 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 3.6 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 www.textainer.com for additional information about Textainer.



Source: Textainer Group Holdings Limited

Contact Information
Investor Relations
+1 415-658-8333
ir@textainer.com

Sponsor
Investec Bank Limited

Date: 11-02-2021 07:05:00
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