| Thu 12 Apr 2012, 10:06 | | TRE - Trencor Limited - Trencor`s Textainer announces the pricing of $400 |
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TRE
TRE
TRE - Trencor Limited - Trencor`s Textainer announces the pricing of $400
Million Series 2012-1 Fixed Rate Asset Backed Notes
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
TRENCOR`S TEXTAINER ANNOUNCES THE PRICING OF $400 MILLION SERIES 2012-1 FIXED
RATE ASSET BACKED NOTES
We draw attention to the following news release issued by Textainer Group
Holdings Limited, in which Trencor has a 60,3% beneficiary interest:
"April 11, 2012 Hamilton, Bermuda - (Business Wire) - 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,
priced a private placement of $400 million in aggregate principal amount of
Series 2012-1 Fixed Rate Asset Backed Notes (the "Notes") to qualified
institutional buyers pursuant to Rule 144A under the Securities Act of 1933
(the "Act") and to non-U.S. persons in accordance with Regulation S
promulgated under the Act. The Notes will be 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.
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.
This press release shall not constitute an offer to sell or a solicitation of
an offer to purchase any of the Notes, and shall not constitute an offer,
solicitation or sale of the Notes in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful.
The Notes will not be 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.
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com"
Trencor Services (Pty) Ltd
Secretaries
12 April 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
www.trencor.net
Date: 12/04/2012 10:06:32 Produced by the JSE SENS Department.
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