Better than Equity? – SeaCube Raises $50 Million from Unexpected Source

Last week, SeaCube Container Leasing Ltd. announced the successful closing of a $50 million unsecured term loan with Wells Fargo, as administrative agent, and Apollo Investment Corporation, as sole lead arranger. The loan matures on April 28, 2016 and bears interest at 11%. Proceeds will be used to purchase containers and for other general corporate purposes. The loan will be guaranteed by all of its subsidiaries, including Container Leasing International LLC, the main operating company.

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