CAI International, Inc. Announces Proposed Offering of $250 Million Aggregate Principal Amount of Asset-Backed Notes
June 19 2017 - 6:00AM
Business Wire
CAI International, Inc. (CAI) (NYSE:CAI), one of the world’s
leading transportation finance and logistics companies, today
announced that CAL Funding III Limited (“CAL”), a wholly-owned
subsidiary of CAI, proposes to offer, subject to market and other
conditions, approximately $250 million aggregate principal amount
of asset-backed notes (the “Notes”) in a private placement
transaction exempt from the registration requirements of the
Securities Act of 1933, as amended (the “Securities Act”). The
terms of the Notes, including the interest rate and other terms,
will be determined by negotiations between CAL and the initial
purchasers of the Notes. The net proceeds from the private
placement will be used for general corporate purposes, including
repayment of debt and offering costs.
The Notes are initially being offered only to qualified
institutional buyers in an offering exempt from registration
pursuant to Section 4(a)(2) of the Securities Act, and are eligible
for resale to investors pursuant to Rule 144A of the Securities Act
and to investors outside the United States pursuant to
Regulation S under the Securities Act. The offer and sale of
the Notes have not been and will not be registered under the
Securities Act or any state securities laws, and, unless so
registered, the Notes may not be offered or sold 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 securities, nor shall it
constitute an offer, or the solicitation of any sale, of any
securities in any jurisdiction in which such offer, solicitation or
sale is unlawful.
This press release is issued in accordance with Rule 135c under
the Securities Act. The proposed offering is subject to market and
other conditions, and there can be no assurance that the proposed
offering of the Notes will be completed.
About CAI International, Inc.
CAI is one of the world’s leading transportation finance and
logistics companies. As of March 31, 2017, CAI operated a worldwide
fleet of approximately 1.2 million CEUs of containers, and owned a
fleet of 6,546 railcars that it leases within North America. CAI
operates through 24 offices located in 14 countries including the
United States.
Forward-Looking Statements
This press release contains forward-looking statements regarding
future events and the future performance of CAI, including but not
limited to, CAI’s expectations regarding the completion of the
proposed offering. These statements and others herein are
forward-looking statements within the meaning of the safe harbor
provisions of Section 21E of the Securities Exchange Act of 1934
and involve risks and uncertainties that could cause actual results
of operations and other performance measures to differ materially
from current expectations. CAI refers you to the documents that it
has filed with the Securities and Exchange Commission, including
its Annual Report on Form 10-K for the year ended December 31,
2016, its Quarterly Reports on Form 10-Q and its Current Reports on
Form 8-K. These documents contain important factors that could
cause actual results to differ from current expectations and from
forward-looking statements contained in this press release.
Furthermore, CAI is under no obligation to (and expressly disclaims
any such obligation to) update or alter any of the forward-looking
statements contained in this press release whether as a result of
new information, future events or otherwise, unless required by
law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170619005348/en/
CAI International, Inc.Tim Page, 415-788-0100Chief Financial
Officertpage@capps.com
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