Textainer to price $25-par series A perpetual preference shares

By Marisa Wong

Los Angeles, April 6 – Textainer Group Holdings Ltd. plans to issue series A cumulative redeemable perpetual preference shares, according to a 424B5 filing with the Securities and Exchange Commission.

Specifically, Textainer will issue depositary shares, each representing a 1/1,000th interest in a series A preference share. The depositary shares have a liquidation preference of $25 each.

RBC Capital Markets, LLC, UBS Securities LLC, B. Riley Securities, Inc. and Keefe, Bruyette & Woods, Inc. are the joint bookrunners.

There will be an over-allotment option.

Dividends will be payable quarterly. The dividend rate will reset in 2026 and every five years after that.

The preference shares are redeemable in whole or in part at par on any dividend payment date on or after the first dividend reset date.

Proceeds will be used for general corporate purposes.

The company plans to list the preferreds on the New York Stock Exchange.

Based in Hamilton, Bermuda, Textainer leases intermodal containers.

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