TAL amends and restates $100 million revolver, extending maturity

By Marisa Wong

Madison, Wis., Dec. 2 - TAL International Container Corp. amended and restated its $100 million senior secured revolving credit facility on Nov. 30, according to an 8-K filing with the Securities and Exchange Commission.

Under the amended and restated facility, the maturity date has been extended to Nov. 30, 2016.

The initial interest rate under the restated facility is Libor plus 225 basis points, subject to adjustment according to a pricing grid beginning Dec. 31, 2012.

The facility contains customary affirmative and negative covenants, financial covenants, representations and warranties and events of default.

TAL International Container is a wholly owned subsidiary of TAL International Group, Inc. The parent company is a Purchase, N.Y.-based leasing company of intermodal containers and chassis.

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