TGH - Textainer renews and extends its $1.5B warehouse facility

Textainer (NYSE:TGH) announced that its indirect, wholly-owned subsidiary, Textainer Marine Containers completed its amendment to renew and extend the term on its $1.5B warehouse facility used to acquire intermodal containers. The facility incorporates a three-year revolving period that was extended to November 2024. If not refinanced or renewed following the 3-year revolving period, the facility will partially amortize over the following four years and then mature in November 2028. Pricing on the facility consists of a spread of 1.70% over the Secured Overnight Financing Rate. "The warehouse facility is a key financing vehicle and this renewal supports our ability to continue investing in containers as we find attractive opportunities," EVP & CFO Michael K. Chan commented.

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Textainer renews and extends its $1.5B warehouse facility