Textainer Completes Public Offering of 6,000,000 Depositary Shares Representing an Interest in Series A Preference Shares
Textainer Group Holdings Limited (NYSE:TGH) completed a public offering of 6,000,000 depositary shares on April 13, 2021, raising $150 million.
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Rhea-AI Summary
Textainer Group Holdings Limited (NYSE:TGH) completed a public offering of 6,000,000 depositary shares on April 13, 2021, raising $150 million. Each depositary share represents a 1/1,000th interest in the company's 7.00% Series A Cumulative Redeemable Perpetual Preference Shares. The net proceeds of approximately $144.9 million will be utilized for general corporate purposes, including acquiring additional intermodal containers. Textainer's President, Olivier Ghesquiere, noted the positive market reaction and the attractiveness of this permanent capital for financing their asset structure.
Positive
- Raised $150 million through the public offering.
- Positive market reaction indicates investor confidence.
- Net proceeds will facilitate acquisition of additional intermodal containers.
Negative
- None.
Details
News Market Reaction – TGH
The recorded move for TGH in the trading session of this news was +4.22%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HAMILTON, Bermuda, April 14, 2021 /PRNewswire/ -- Textainer Group Holdings Limited (NYSE:TGH; JSE: TXT) ("Textainer", "we", and "our"), one of the world's largest lessors of intermodal containers, today announced the completion of its public offering on April 13, 2021 of 6,000,000 depositary shares, each representing a 1/1,000th interest in a share of its
"We are very pleased to close our first issuance of perpetual preferred shares," commented Olivier Ghesquiere, President and CEO of Textainer. "We are very pleased with the positive market reaction to this offering and believe this is an attractively priced form of permanent capital that is well suited to add to the capital structure we use to finance our long-lived container assets."
Textainer intends to use the net proceeds of approximately
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is one of the world's largest lessors of intermodal containers with approximately 3.8 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 500 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).
Contact Information
Investor Relations
+1 415-658-8333
ir@textainer.com
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SOURCE Textainer Group Holdings Limited
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