The Reed Smith team advising on this matter was led by San Francisco-based partners William S. Veatch and Catherine Young Hagerty.
The Reed Smith team helped structure the financing, so that its wholly-owned subsidiary Textainer Marine Containers II Limited completed an amendment to extend the term and lower pricing on the facility used to acquire intermodal containers. The deal incorporates a three-year revolving period that was extended to July 2022, after which, if the facility is not refinanced or renewed, it will partially amortize over the following four years and then mature on July 2026.
Textainer has operated since 1979 and is one of the world's largest lessors of intermodal containers with more than 3 million TEU in its owned and managed fleet. This transaction improves Textainer's capital structure and flexibility to competitively pursue additional intermodal container investment.