San Francisco and New York lawyers advise Textainer in US$651 million of asset-backed notes

Norton Rose Fulbright's San Francisco and New York offices recently advised Textainer Group Holdings Limited (Textainer) and its subsidiary, Textainer Marine Containers VII Limited (TMCL VII), in their recent issuance and closing of US$651 million of fixed-rate asset-backed notes.

The issuance is comprised of US$605 million in Class A Notes and $46 million in Class B Notes. The fixed-rate, asset-backed notes were issued to qualified institutional buyers under Rule 144A under the Securities Act of 1933 (Act) and to non-US persons under Regulation S promulgated under the Act.

Catherine Hagerty and Bill Veatch (San Francisco) led the US team, which included Chana Ben-Zacharia, William Cavanagh, Kevin L. Prokup, Marian Baldwin Fuerst, Christy Rivera and Roy L. Goldman (New York).

In August and September 2020 as well as February 2021, Norton Rose Fulbright advised Textainer and TMCLVII on four additional fixed-rate, asset-backed financings totaling approximately US$2 billion.