| Thu 3 Jul 2008, 10:22 | | TRE/MOB - Trencor/Mobile Industries Limited - Trencor`s Textainer Announces |
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MOB TRE
MOB TRE
TRE/MOB - Trencor/Mobile Industries Limited - Trencor`s Textainer Announces
Extension and Size Increase of its Securitization Facility
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
TRENCOR`S TEXTAINER ANNOUNCES EXTENSION AND SIZE INCREASE OF ITS SECURITIZATION
FACILITY
We draw attention to the following news release issued by Textainer Group
Holdings Limited, in which Trencor has a 62,6% beneficial interest:
"HAMILTON, Bermuda (BUSINESS WIRE) - July 2, 2008. Textainer Group Holdings
Limited (NYSE: TGH) ("Textainer"), 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, extended and
increased the size of its securitization facility. The total commitment under
the securitization facility was increased from $300 million to $475 million. The
interest rate is 1.25% over LIBOR during an initial two-year revolving period.
If the securitization facility is not refinanced or renewed during this two-year
period, the interest rate will increase and the facility will stop revolving and
begin amortizing over a term that is scheduled to be 10 years but not to exceed
15 years.
"We are extremely pleased to have been able to extend and increase the size of
TMCL`s securitization facility," said John Maccarone, Textainer`s President and
Chief Executive Officer. "Given the current challenging conditions in the credit
markets in general, and the asset-backed market in particular, we believe that
the success of this transaction demonstrates the participating banks` strong
confidence in and commitment to Textainer."
"The successful completion of both this transaction and the $205 million, five-
year revolving credit agreement for Textainer Limited, which closed in April,
strengthens our liquidity position. Together, we believe these facilities will
help to ensure that we have access to the financing necessary to position
Textainer for future growth."
Mr. Maccarone added, "We would like to thank Wachovia Capital Markets, LLC for
structuring the facility. We would also like to thank Fortis Capital Corp, BTMU
Capital Corporation, HSH Nordbank AG, New York Branch, and ING Bank N.V. for
their participation and continued support."
Contact: Textainer Group Holdings Limited
Mr Tom Gallo
Corporate Compliance Officer
415-658-8227
ir@textainer.com"
Trencor Services (Pty) Ltd
Secretaries
3 July 2008
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
www.trencor.net
www.mobile-industries.net
Date: 03/07/2008 10:22:02 Produced by the JSE SENS Department.
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