Textainer Group Holdings, the world’s largest lessor of intermodal containers based on fleet size, announced that TAP Funding Ltd., a 50.1% owned subsidiary, entered into a $170 million, three-year revolving credit facility with a group of financial institutions led by ABN AMRO Capital USA LLC, and including ING Belgium NV/SA, Sovereign Bank, N.A. and, Union Bank, N.A. ABN AMRO Capital USA LLC will serve as administrative agent for the facility.

The interest rate under the credit agreement is 200 basis points over LIBOR. The proceeds from borrowings under the credit agreement are expected to be used to purchase containers and for general corporate purposes. The facility also includes a $55 million accordion feature, which TAP may elect to utilize and increase the size of the facility.

The facility represents the replacement and expansion of an existing three-year, $120 million revolving credit facility which had an interest rate of 375 basis points over LIBOR. The prior credit agreement remained outstanding following the Company’s acquisition of TAP in December 2012.

Textainer Group Holdings Limited has operated since 1979 and is the world's largest lessor of intermodal containers based on fleet size.