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Trencor's Textainer USD400 million notes
Posted Thu, 12 Apr 2012

Trencor drew attention to the following news release issued by Textainer Group Holdings Ltd, in which Trencor has a 60.3% beneficiary interest: "April 11, 2012 Hamilton, Bermuda - (Business Wire) - Textainer Group Holdings Ltd (NYSE: TGH) ("Textainer"), the world's largest lessor of intermodal containers based on fleet size, today announced that Textainer Marine Containers Ltd ("TMCL"), Textainer's primary asset owning subsidiary, priced a private placement of USD400 million in aggregate principal amount of Series 2012-1 Fixed Rate Asset Backed Notes (the "notes") to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 (the "Act") and to non-US persons in accordance with Regulation S promulgated under the Act. The Notes will be fully amortizing notes payable on a straight-line basis over a scheduled payment term of ten years, but not to exceed the maximum payment term of fifteen years. The notes have a fixed interest rate, payable monthly, of 4.21% per annum, resulting in an effective semi-annual yield on the Notes of 4.25% per annum. The proceeds from the issuance of the notes are expected to be used to repay certain outstanding indebtedness of TMCL, in particular its Series 2010-1 Notes, and for general corporate purposes. The Notes are secured by a pledge of TMCL's assets."