By Lisa Kerner
Charlotte, N.C., April 29 - SeaCube Container Leasing Ltd. closed a $50 million five-year senior term loan.
The loan has an annual interest rate of 11%.
Proceeds will be used to increase the Park Ridge, N.J., container leasing company's investments in new containers.
"The $50 million five-year term loan combined with our existing credit facilities provides the company with significant financial strength to add to our investments in new containers and further increase SeaCube's revenue, earnings and cash flow growth," chief executive officer Joseph Kwok said in a company news release.
| Issuer: | SeaCube Container Leasing Ltd.
|
| Issue: | Senior term loan
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| Amount: | $50 million
|
| Tenor: | Five years
|
| Coupon: | 11%
|
| Announcement date: | April 29
|
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