News

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

TEXTAINER COMPLETES A US$300 MILLION ASSET BACKED FINANCING

We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 47,78% beneficiary interest:

Hamilton, Bermuda – (Business Wire) – Feb. 20, 2018 – Textainer Group Holdings Limited (NYSE: TGH) (“Textainer” or the “Company”), one of the world’s largest lessors of intermodal containers, today announced that Textainer Marine Containers VI Limited (“TMCL VI”), an indirect, wholly-owned subsidiary of the Company, closed a $300 million, seven year fixed rate term financing with a lender group comprised of a financial institution and an institutional investor. The facility partially amortizes and the remaining principal is due in full in seven years. The weighted average life of the deal is approximately five years and is secured by a pledge of TMCL VI’s intermodal shipping container assets. The proceeds of the financing were used to pay down certain short-term debt.

“The financing is an innovative private ABS structure with one of our financing partners and a traditional ABS notes investor. The deal increases our ratio of fixed rate debt and frees up borrowing capacity in our short-term facilities which we intend to use for additional container investments,” commented Hilliard C. Terry, III, Textainer Executive Vice President and Chief Financial Officer.”

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
21 February 2018

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