2013 News

Trencor’s Textainer extends and reprices US$1, 2 billion warehouse financing facility

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


We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 48,5% beneficiary interest:

"Hamilton, Bermuda - (Business Wire) – May 7, 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 Marine Containers II Limited ("TMCL II"), an indirect, wholly-owned subsidiary of the Company, entered into an amendment to extend its current two-year $1.2 billion warehouse securitization facility by an additional year and also lower the interest rate on the facility to 1.95% over LIBOR during the new two-year revolving period. Previously the facility was 2.625% over LIBOR. The Company also lowered the facility's unused fee and improved other terms. If the facility is not refinanced or renewed following the two-year period that ends in May 2015, the facility is structured to partially amortize over the following five years and then mature. The syndicate of participating banks include: ABN AMRO Capital USA LLC, Bank of America, N.A., Credit Suisse AG, Deutsche Bank AG, ING Bank Belgium NV/SA, Key Equipment Finance Inc., Royal Bank of Canada, Sovereign Bank, N.A., SunTrust Bank and Wells Fargo Bank, National Association. Wells Fargo Bank, N.A. served as the structuring agent and arranger.

"The extension of this sizable securitization facility with a lower cost of funds and improved terms, provides Textainer with continued liquidity and flexibility, enabling us to competitively meet our customers' container leasing needs," commented Hilliard C. Terry, III, Textainer Executive Vice President and Chief Financial Officer. "The renewal of this facility, coupled with the recent refinancing of the credit facility for our TAP subsidiary, is evidence of our continuing successful efforts to reduce funding costs. Given the continued low interest rate environment and other options available to us, we see additional opportunities to further reduce our funding costs and improve our competitive position."

Textainer Group Holdings Limited
Hilliard C. Terry, III, +1 415-658-8214
Executive Vice President and Chief Financial Officer
This email address is being protected from spambots. You need JavaScript enabled to view it."

Trencor Services (Pty) Ltd
08 May 2013

Rand Merchant Bank (A division of FirstRand Bank Limited)

Home News 2013 News Trencor’s Textainer extends and reprices US$1, 2 billion warehouse financing facility

About Trencor

TRENCOR LIMITED is an investment holding company listed on the JSE. Trencor benefits from operations that focus on owning, leasing, managing and trading marine cargo containers worldwide.

Legal Notice

The use of this site and all the information on it and on any links is subject to a full disclaimer and exclusion of liability for any negligence, misrepresentation, misstatement or otherwise of Trencor Limited in relation thereto. Copyright © , Trencor. All Rights Reserved.