By Lisa Kerner
Charlotte, N.C., May 16 - TAL International Group, Inc.'s indirect wholly owned subsidiary TAL Advantage IV LLC completed its offering of $235 million series 2011-2 fixed-rate secured notes on Friday.
The notes (/A/) were issued at par with an annual interest rate of 4.31%. They have a scheduled maturity date of May 20, 2021 and a legal final maturity date of May 20, 2026, according to a company news release.
Proceeds will be used to purchase containers and for other general business purposes.
"The series 2011-2 notes represents our fourth term ABS issuance since June 2010 and brings our total issuance volume over the period to $809 million," president and chief executive officer Brian M. Sondey said in a news release.
"The growth of the ABS market has resulted in a reliable and increasingly efficient source of long-term funding for our container purchases."
TAL International is a lessor of intermodal freight containers based in Purchase, N.Y.
| Issuer: | TAL Advantage IV LLC
|
| Issue: | Series 2011-2 fixed-rate secured notes
|
| Amount: | $235 million
|
| Maturity: | May 20, 2021
|
| Coupon: | 4.31%
|
| Rating: | Standard & Poor's: A
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
