SeaCube Container Leasing Ltd. Increases and Extends Container Warehouse Credit Facility
Boc (NYSE:BOX)
Today : Tuesday 27 March 2012
SeaCube Container Leasing Ltd. (NYSE: BOX) announced today that its indirect wholly owned subsidiary, CLI Funding IV LLC, has amended and restated its container warehouse credit facility. The amended and restated agreement increases the size of the credit facility from $200 to $300 million and extends the term to March 2014.
Joseph Kwok, Chief Executive Officer of SeaCube, commented, “The closing of this credit facility demonstrates the Company’s ability to successfully access additional investment capital under favorable terms. This transaction will further support SeaCube’s plans for continued fleet expansion and our ability to grow revenues, earnings and cash flows.”
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.
