104,000 (net book value $382m) secure $328m fixed rate ABS, issued by Textainer Marine Containers VII Ltd. A strength of the transactiin, says S&P, is the resiliency and stability of the leased container market during macroeconomic disruption caused by Covid.
Reduced capex has supported demand for leased containers.
96% of the portfolio is long-term leases and direct-finance leases (purchase lease), which are shielded from rate reductions during a downturn, says S&P.
The portfolio is a mix , that includes: dry, reefer, and tank containers.
Image: S&P Presale Textainer Marine Containers VII Ltd.
