23 Aug - 3 min read

Textainer Announces Early Redemption of $208 million Secured Term Loans

Textainer Announces Early Redemption of $208 million Secured Term Loans

TEXTAINER GROUP HOLDINGS LIMITED
Incorporated in Bermuda
Company number: EC18896
NYSE share code: TGH
JSE share code: TXT
ISIN: BMG8766E1093
LEI: 529900OHEYRATAFMIT89
(“Textainer”, “the Company”, “we” and “our””)


Textainer Announces Early Redemption of $208 million Secured Term Loans


HAMILTON, Bermuda – August 20, 2021 – Textainer Group Holdings Limited (NYSE:TGH; JSE: TXT)
(“Textainer”, “we”, and “our”), one of the world’s largest lessors of intermodal containers, today announced
that Textainer Marine Containers VI Limited ("TMCL VI"), an indirect, wholly-owned subsidiary of the
Company, has redeemed approximately $208 million in aggregate principal outstanding of senior secured
term loans (“term loans”) with an average interest rate of 4.30% and an original scheduled maturity in
February 2025.

In accordance with the early redemption provisions of the term loans, Textainer made a make-whole
payment of approximately $11 million. Additionally, we incurred a write-off of unamortized debt issuance
costs of approximately $1 million. The make-whole payment and write-off will be recognized in our third
quarter earnings, but will be excluded from our third quarter adjusted net income. Textainer used borrowings
under our lower-priced existing debt facilities to pay for the outstanding principal of the term loans and the
make-whole payment.

“The early redemption of these notes will help us further optimize our financing platform. Furthermore,
we are also able to decrease our future effective interest rate by replacing the $208 million 4.30% term
loans with our lower-priced debt facilities. We expect to more than fully recover the make-whole payment
of this redemption through future interest savings.” commented Michael K. Chan, Textainer Executive
Vice President and Chief Financial Officer.

About Textainer Group Holdings Limited

Textainer has operated since 1979 and is one of the world's largest lessors of intermodal containers with
approximately 4.1 million TEU in our owned and managed fleet. We lease containers to approximately 250
customers, including all of the world's leading international shipping lines, and other lessees. Our fleet
consists of standard dry freight, refrigerated intermodal containers, and dry freight specials, and we are one
of the largest and most reliable suppliers of new and used containers. Textainer operates via a network of
14 offices and approximately 400 independent depots worldwide. Textainer has a primary listing on the
New York Stock Exchange (NYSE: TGH) and a secondary listing on the Johannesburg Stock Exchange
(JSE: TXT).

Important Cautionary Information Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. securities laws. Forward-
looking statements include statements that are not statements of historical facts and include, without
limitation, statements regarding: the expected decrease in our overall effective interest rate and expected
recovery of the make-whole payment. Readers are cautioned that these forward-looking statements involve
risks and uncertainties, are only predictions and may differ materially from actual future events or results.
For a discussion of some of these risks and uncertainties, see Item 3 "Key Information— Risk Factors" in
Textainer's Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 18,
2021 and the risks described in the section entitled “Risk Factors” in the prospectus supplement related to
the offering of the depositary shares.
Textainer's views, estimates, plans and outlook as described within this document may change subsequent
to the release of this press release. Textainer is under no obligation to modify or update any or all of the
statements it has made herein despite any subsequent changes Textainer may make in its views, estimates,
plans or outlook for the future.

Source: Textainer Group Holdings Limited

Contact Information
Investor Relations
+1 415-658-8333
ir@textainer.com

23 August 2021

Sponsor
Investec Bank Limited





Date: 23-08-2021 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.
Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from Textainer Group Holdings (JSE:TXT) when you join Listcorp.