Wrap Text
Textainer announces pricing of $651 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 Pricing of $651 million Asset-Backed Financing
HAMILTON, Bermuda – March 30, 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, priced a new debt offering of $651 million of fixed-rate asset-backed notes, comprised of $605
million in Class A Notes and $46 million in Class B Notes (collectively the “Notes”). When issued, the
Notes will have a fixed coupon with a weighted average effective annual interest rate of 2.29% and a
weighted average life of approximately five years. The Notes will be secured by a pledge of TMCL VII’s
assets. When issued, the Class A and Class B Notes are expected to be rated A(sf) and BBB(sf), respectively,
by Standard & Poor’s. The related closing is expected to occur on April 20, 2021. Once closed,
approximately $300 million of the issuance proceeds will be used to repay in full the remaining TMCL VII
2019-1 notes which have a weighted average effective annual interest rate of 4.06%. The balance will be
used to pay down bank facility debt, which in turn is intended to lower overall borrowing costs, free up
bank facility capacity for additional container investments and increase the fixed rate portion of our overall
debt.
The Notes were offered within the United States only to qualified institutional investors pursuant to Rule
144A under the Securities Act of 1933, as amended (the “Securities Act”), to institutional “accredited
investors” as defined in the Securities Act and to persons outside the United States in compliance with
Regulation S under the Securities Act. The Notes have not been registered under the Securities Act, or any
state securities laws, and unless so registered, may not be offered or sold in the United States except
pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and
shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be
unlawful.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is one of the world's largest lessors of intermodal containers with
approximately 3.8 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).
Important Cautionary Information Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws. Forward-
looking statements include statements that are not statements of historical facts and include, without
limitation, statements regarding: the expected timing and completion of the issuance of the Notes, the
expected pay-off of the TMCL VII 2019-1 Notes with the proceeds of the Notes, the anticipated lower
borrowing costs upon issuance of the Notes, the expected increase in debt capacity upon issuance of the
Notes, the expected increase in fixed rate debt with the issuance of the Notes and the expected rating of the
Notes. Readers are cautioned that these forward-looking statements involve risks and uncertainties, are
only predictions and may differ materially from actual future events or results. For a discussion of some of
these risks and uncertainties, see Item 3 "Key Information— Risk Factors" in Textainer's Annual Report on
Form 20-F filed with the Securities and Exchange Commission on March 18, 2021.
Textainer's views, estimates, plans and outlook as described within this document may change subsequent
to the release of this press release. Textainer is under no obligation to modify or update any or all of the
statements it has made herein despite any subsequent changes Textainer may make in its views, estimates,
plans or outlook for the future.
Source: Textainer Group Holdings Limited
Contact Information
Investor Relations
+1 415-658-8333
ir@textainer.com
Sponsor
Investec Bank Limited
Date: 31-03-2021 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
