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Textainer Group Holdings Ltd Series A Cumulative Reset Rate Preference Shares
Ticker Symbol: TGH-A     CUSIP: 88314W204     Exchange: NYSE
Security Type:   Traditional Preferred Stock

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Textainer Group Holdings Ltd Depositary Shares each representing a 1/1000 interest in a share of the Series A Cumulative Redeemable Perpetual Preference Shares, liquidation preference $25 per Depositary share, redeemable at the issuer's option on or after 06/15/2026 at $25 per Depositary share plus accrued and unpaid dividends, and with no stated maturity.

Cumulative distributions of the Annual Fixed Dividend Rate will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the 15th calendar day prior to the dividend date or other date fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The Annual Fixed Dividend Rate will be 7.00% until the first redemption date, then it will be equal to the sum of the five-year treasury rate on the applicable fixed rate calculation date plus 6.134%, resetting every 5 years thereafter on applicable fixed rate calculation date (see prospectus for more details). Dividends paid by these preference shares are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders This company may lose its preferential tax rate if it is classified as a Passive Foreign Investment Company in this or a future tax year (see page S-34 of the prospectus for further information).

Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preference shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will NOT have the following conversion right. Upon the occurrence of a change of control, and the company has NOT provided notice that they intend to redeem the preference shares, the holder will have the right to convert the depositary shares into common shares under certain circumstances (see the prospectus for details).

This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preference shares rank junior to the company's senior debt, equally with other preference shares of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
Reset Rate
$1.75
$25.00
$25.00
6/15/2026
None
NR NR
4/07/2021
3/15, 6/15, 9/15 & 12/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
YES

Go to Parent Company's Record (TGH)

Notes:  The 7.00% Series A preference shares were issued on 4/06/2021 and started trading temporarily on the Other OTC market 04/06/2021 under the ticker symbol TGHLF until they start trading on the NYSE. The shares are expected to start trading on the NYSE within 30 days of their issue date under their permanent ticker symbol of TGH-A. For information on securities trading on the Other OTC, see our discussion on this subject on our What Income Investors Should Know page which can be found on our Information menu at the top of any page

IPO - 4/6/2021 - 6.00 Million Shares @ $25.00/share.    Link to IPO Prospectus
Previous Ticker Symbol: TGHLF    Changed: 4/19/2021
Market Value $150.0 Million

Company's Online Information Links
HOME PAGE:     https://www.textainer.com/
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings

Company's Email Address Links
Email Address investor_relations@textainer.com
Email Contact Form on Website Go to Email Form

Foreign Address and Phone Numbers
Address:   Century House, 16 Par-La-Ville Road, Hamilton HM 08 Bermuda
Main Phone Number 441-296-2500
Fax Number 441-295-4164
Inv Rel Phone Number 441-296-2500

Address and Phone Numbers
U.S. Representative Textainer Equip. Management (U.S.) Ltd
Address:   650 California Street, 16th Floor, San Francisco, CA 94108
Main Phone Number 415-434-0551
Fax Number 415-434-0599
Investor Relations 415-658-8333
Toll Free Phone Number Unknown
CEO - Olivier Ghesquiere CFO - Michael K. Chan

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Latest Update: 3/31/2021