Our San Francisco
and New York
offices recently advised Textainer Group Holdings Limited (Textainer) and its subsidiary, Textainer Marine Containers VII Limited (TMCLVII), in their recent US$550 million fixed-rate, asset-backed financings.
The transaction included
US$523.5 million in Class A Notes and $26.5 million in Class B Notes (Notes). Proceeds from the issuance were used primarily to pay down debt in our bank facilities.
Textainer issued the fixed-rate, asset-backed notes 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.
Hamilton, Bermuda-based Textainer, one of the world's largest lessors of intermodal containers, has operated since 1979 and operates via a network of 14 offices and approximately 500 independent depots worldwide. It leases containers to approximately 250 customers, and its fleet consists of standard dry freight, refrigerated intermodal containers, and dry freight specials.
and Bill Veatch
(San Francisco) led the US team, which included Chana Ben-Zacharia
, Bill Cavanagh
, Kevin Prokup
, Marian Baldwin Fuerst
, Christy Rivera
; and Roy Goldman
(New York); and Melanie King (San Francisco).
In August and September 2020, Norton Rose Fulbright advised Textainer and TMCLVII on three additional fixed-rate, asset-backed financings totaling approximately US$1.3 billion.