Textainer Extends and Reprices its $1.2 Billion Warehouse Facility
Textainer Group Holdings Limited Common Shares (TGH)
Last textainer group holdings limited common shares earnings: 10/31 04:05 pm
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Source: PR Newswire
HAMILTON, Bermuda, July 29, 2019 /PRNewswire/ -- Textainer Group Holdings Limited (NYSE:TGH) ("Textainer"), one of the world's largest lessors of intermodal containers, today announced that Textainer Marine Containers II Limited ("TMCL II"), an indirect, wholly-owned subsidiary of the Company, completed an amendment to extend the term and lower pricing on its $1.2 billion warehouse facility used to acquire intermodal containers. The facility incorporates a three-year revolving period that was extended to July 2022. If not refinanced or renewed following the three-year revolving period, the facility will partially amortize over the following four years and then mature on July 2026. Pricing on the facility consists of a spread over the London Interbank Offered Rate (LIBOR). The spread was reduced from 1.90% to 1.75%."We are pleased with the successful extension of our warehouse facility and the continued support of our bank group. The attractive terms and pricing of this facility impro
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