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Textainer Group Holdings Ltd Series A Cumulative Reset Rate Preference Shares
Ticker Symbol: TGH-A* CUSIP: 88314W204 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/15/2024
Security has been Called for: Monday, April 15, 2024
March 14, 2024 -- Textainer issued a notice of redemption for all its (i) 7.000% Series A Cumulative Redeemable Perpetual Preference Shares (the “Series A Preference Shares”) and the corresponding redemption of each depositary share representing a 1/1000th interest in each such share, CUSIP 88314W204 (NYSE: TGH PRA) (the “Series A Depositary Shares”), and (ii) 6.250% Series B Cumulative Redeemable Perpetual Preference Shares (the “Series B Preference Shares” and, collectively with the Series A Preference Shares, the “Preference Shares”) and the corresponding redemption of each depositary share representing a 1/1000th interest in each such share, CUSIP 88314W303 (NYSE: TGH PRB) (the “Series B Depositary Shares”).
The redemption date for the Preference Shares and corresponding depositary shares will be April 15, 2024 (the “Redemption Date”). The redemption price for (i) each Series A Preference Shares will be $25,150.69 and (ii) each Series B Preference Share will be $25,134.55 (representing, in each case, $25,000 plus all accumulated and unpaid distributions to, but not including, the Redemption Date, whether or not declared). The corresponding depositary share redemption price will be (i) $25.15 per Series A Depositary Share and (ii) $25.13 per Series B Depositary Share (representing, in each case, $25.00 plus all accumulated and unpaid distributions to, but not including, the Redemption Date, whether or not declared).
Regular quarterly dividends on the Preference Shares and depositary shares are payable March 15, 2024, to each holder of record on March 1, 2024.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.
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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.
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Go to Parent Company's Record (TGH*)
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 $ Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| 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 |
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Inv Rel Phone Number
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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
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415-658-8333
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Toll Free Phone Number |
Unknown |
| CEO - Olivier Ghesquiere |
CFO - Michael K. Chan |
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