News

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

TRENCOR’S TEXTAINER EXTENDS AND REPRICES US$1,2 BILLION WAREHOUSE FINANCING FACILITY

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
ir@textainer.com”

Trencor Services (Pty) Ltd
Secretaries
08 May 2013

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