SeaCube Container Leasing Ltd. Announces Closing of $250 Million “A” Rated Fixed Rate Secured Notes
Boc (NYSE:BOX)
Today : Thursday 3 November 2011
SeaCube Container Leasing Ltd. (NYSE: BOX) announced today that its indirect wholly owned subsidiary, CLI Funding V LLC ("CLIF V”) successfully completed its offering of $250,000,000 Series 2011-2 Fixed Rate Secured Notes ("Series 2011-2 Notes") on November 3, 2011. The Series 2011-2 Notes were rated "A" by Standard & Poor's and have an interest rate of 4.94%. CLIF V will use the net proceeds of the offering for container purchases and other general business purposes.
Joseph Kwok, Chief Executive Officer of SeaCube, commented, "We are pleased by the financial community’s positive response to SeaCube’s second offering of secured notes in 2011. The successful offering further increases the Company’s available capital and highlights its stable business model and attractive future prospects. This transaction will further support SeaCube’s plans for continued fleet expansion and earnings growth.”
The notes were offered within the United States only to qualified institutional investors pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and to persons outside the United States in compliance with Regulation S under the Securities Act. The notes have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful
About SeaCube Container Leasing Ltd.
SeaCube Container Leasing Ltd. is one of the world’s largest container leasing companies based on total assets. Containers are the primary means by which products are shipped internationally because they facilitate the secure and efficient movement of goods via multiple transportation modes, including ships, rail and trucks. The principal activities of our business include the acquisition, leasing, re-leasing and subsequent sale of refrigerated and dry containers and generator sets. We lease our containers primarily under long-term contracts to a diverse group of the world’s leading shipping lines. For more information regarding SeaCube Container Leasing Ltd. please visit www.seacubecontainers.com.
