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Stock Market & Financial Investment News

News Breaks
December 27, 2012
16:17 EDTTGHTextainer acquired 50.1% interest in managed container fleet
Textainer Group Holdings announced that it acquired a 50.1% interest in TAP Funding Ltd., a Bermuda company that owns an approximately 99,000 TEU (twenty-foot equivalent unit) fleet of containers currently managed by Textainer for approximately $78M, including the value of TAP Funding Ltd.’s existing debt that remains outstanding. This fleet contains a well diversified mix of container types, including standard dry freight, refrigerated and specialized dry freight containers. Additionally, the fleet has high utilization and a diversified lessee mix consistent with Textainer’s overall container fleet. Textainer has agreed with TAP Ltd., the other shareholder in TAP Funding Ltd., to continue to invest in new containers for this fleet, in order to both grow the portfolio and maintain the relatively young average age of the containers.
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September 16, 2014
08:35 EDTTGHTextainer refinances $1.2B warehouse financing facility
Textainer announced that Textainer Marine Containers, an indirect, wholly-owned subsidiary of the Company, entered into an amendment to extend its $1.2B warehouse securitization facility incorporating a three-year revolving period and also lowering the interest rate on the facility to 1.70% over LIBOR during the new revolving period. If the facility is not refinanced or renewed following the three-year revolving period that ends in September 2017, the facility is structured to partially amortize over the following four years and then mature. Previously the facility had a two-year revolving period and was priced at 1.95% over LIBOR. The company also lowered the facility’s unused fee and improved other terms.
September 15, 2014
16:11 EDTTGHTextainer initiated with a Hold at Deutsche Bank
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