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February 12, 2013
08:48 EDTTGHTextainer says 2013 outlook remain attractive
Shipping lines are likely to remain dependent on container lessors for the majority of their container needs due to limitations on both the cash they have available for investment and the funding provided by banks. Manufacturers are expected to produce 2.7M TEU in 2013 compared to 2.5M TEU during 2012, and lessors are expected to purchase 70% or more of total production versus 65% last year. Additionally, shipping lines are expected to continue their recent increase in disposals, which provides opportunities for purchase leaseback and trading business as well as increases in the demand for new replacement 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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