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Stock Market & Financial Investment News

News Breaks
July 15, 2014
09:02 EDTTGHTextainer acquires 7,600 TEU of managed containers for $9.4M
Textainer Group Holdings Limited announced that it acquired approximately 7,600 TEU of standard dry freight and refrigerated containers from its managed fleet for approximately $9.4M. “We are pleased to purchase additional containers from our managed fleet as we continue to grow our overall fleet and increase the percentage we own,” stated Philip K. Brewer, President and CEO of Textainer. “This transaction increases the owned portion of our fleet to 77% up from 59% at the start of 2012. The acquired containers are seasoned income producing assets which we expect will be immediately accretive to earnings and contribute to long-term growth in shareholder value,” concluded Mr. Brewer.
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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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