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Textainer Completes The Issuance Of $400 Million Series 2012-1 Fixed Rate Asset Backed Notes

Textainer Group Holdings Limited (NYSE:TGH) (“Textainer”, the “Company”, “we” and “our”), the world’s largest lessor of intermodal containers based on fleet size, today announced that Textainer Marine Containers Limited (“TMCL”), Textainer’s primary asset owning subsidiary, closed its offering of $400 million in aggregate principal amount of Series 2012-1 Fixed Rate Asset Backed Notes (the “Notes”). The Notes, initially purchased by Wells Fargo Securities, LLC, BofA Merrill Lynch and Credit Suisse, represent fully amortizing notes payable on a straight-line basis over a scheduled payment term of ten years, but not to exceed the maximum payment term of fifteen years. The Notes have a fixed interest rate, payable monthly, of 4.21% per annum, resulting in an effective semi-annual yield on the Notes of 4.25% per annum.

“We are extremely pleased with the $400 million debt offering,” commented Philip K. Brewer, Textainer President and Chief Executive Officer. “We are continuing to see strong demand for containers and the additional liquidity from the Notes further bolsters our capacity to grow organically, support our customers and continue as the industry leader.”

The Notes were offered and sold by the initial purchasers of the Notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and to non-U.S. persons in accordance with Regulation S promulgated under the Securities Act. The proceeds from the issuance of the Notes are expected to be used to repay certain outstanding indebtedness of TMCL, in particular its Series 2010-1 Notes, and for general corporate purposes. The Notes are secured by a pledge of TMCL’s assets.

“The successful issuance of the Notes highlights the ever improving liquidity and investor interest in asset-backed container debt,” added Hilliard C. Terry, III, Textainer Executive Vice President and Chief Financial Officer.

The Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state laws.

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