TAL International Group, Inc. (NYSE: TAL), announced today
that its indirect wholly owned subsidiary, TAL Advantage IV LLC ("TAL
Advantage IV"), completed its offering of $250,000,000 Series 2012-1
Fixed Rate Secured Notes ("Series 2012-1 Notes") on May 22, 2012. The
Series 2012-1 Notes, which were rated "A" by Standard & Poor's, were
issued with a coupon of 3.86% per annum and an effective annual yield of
3.90%, have a scheduled maturity date of May 20, 2022 and a final legal
maturity date of May 20, 2027. TAL Advantage IV will use the net
proceeds of the offering to purchase containers and for other general
"We are very pleased with the excellent results from our latest offering
of ABS notes," commented Brian M. Sondey, Chairman, President and Chief
Executive Officer of TAL International. "The ABS market continues to be
highly receptive to TAL. We have raised over $1 billion in the ABS
market over the last two years, and I think the attractive pricing on
the Series 2012-1 Notes reflects investors’ confidence in TAL’s business
model and strong management capabilities. TAL’s ability to quickly raise
large amounts of capital efficiently provides a major advantage as we
seek to fully exploit the strong fundamentals and attractive growth
opportunities we continue to see in our market place.”
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 TAL International Group, Inc.
TAL is one of the world's largest lessors of intermodal freight
containers and chassis with 17 offices in 11 countries and approximately
225 third party container depot facilities in 39 countries. The
Company's global operations include the acquisition, leasing, re-leasing
and subsequent sale of multiple types of intermodal containers. TAL's
fleet consists of approximately 1,013,000 containers and related
equipment representing approximately 1,649,000 twenty-foot equivalent
units (TEU). This places TAL among the world's largest independent
lessors of intermodal containers and chassis as measured by fleet size.
Important Cautionary Information Regarding Forward-Looking Statements
Statements in this press release regarding TAL International
Group, Inc.'s business that are not historical facts are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Readers are cautioned that
these statements involve risks and uncertainties, are only predictions
and may differ materially from actual future events or results. For a
discussion of such risks and uncertainties, see TAL's security filings,
including its Annual Report on Form 10-K for the year ended December 31,
2011, which are available free of charge on the SEC's web site at http://www.sec.gov.
The Company's views, estimates, plans and outlook as described within
this document may change subsequent to the release of this statement.
The Company is under no obligation to modify or update any or all of the
statements it has made herein despite any subsequent changes the Company
may make in its views, estimates, plans or outlook for the future.