By Lisa Kerner
Charlotte, N.C., Oct. 1 - Beacon Intermodal Leasing, LLC subsidiary Beacon Container Finance LLC placed $250 million of series 2012-1 3.72% fixed-rate secured asset-backed notes.
Beacon will use the proceeds from the notes to purchase new containers and for general corporate purposes, a company news release said.
Deutsche Bank Securities Inc. was the structuring agent and joint bookrunner. Wells Fargo Securities LLC also acted as joint bookrunner.
The notes were rated A(sf) by Standard & Poor's and Kroll Ratings.
This is the first time that Beacon has gone to market for funding since it was established in 2008. Beacon has been funded to date through its parent company, BTMU Capital Corp.
Beacon is a marine container leasing company based in Boston. BTMU Capital is a wholly owned subsidiary of Bank of Tokyo-Mitsubishi UFJ, Ltd.
| Issuer: | Beacon Container Finance LLC
|
| Issue: | Series 2012-1 fixed-rate secured asset-backed notes
|
| Amount: | $250 million
|
| Coupon: | 3.72%
|
| Bookrunners: | Deutsche Bank Securities Inc. and Wells Fargo Securities LLC
|
| Ratings: | Standard & Poor's: A(sf)
|
| Kroll Ratings: A(sf)
|
| Distribution: | Private placement
|
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