Investor Presentaiton
Textainer Stable Debt Financing
% of total
Floating vs. Fixed rate debt
at period
end
Avg.
remaining
tenor
Avg rate for
the quarter
Spot rate at
quarter end
$2,000M
Fixed-rate debt
53%
6.5 years
2.34%
2.34%
$1,500M
Hedged floating-rate debt
38%
4.8 years
2.94%
2.94%
Total fixed-rate and hedged debt
91%
5.8 years
2.59%
2.59%
$1,000M
Unhedged floating rate debt
9%
6.12%
6.37%
$500M
Total debt
100%
2.90%
2.94%
Amortization of debt issue fees and misc.
0.22%
0.22%
$OM
Effective interest rate (all-in)
3.12%
3.16%
Net Debt/
Equity
3.50x
3.25x
3.00x
2.75x
2.50x
2.25x
2.00x
1.75x
1.50x
1.25x
1.00x
2Q18
3Q18
4Q18
1Q19
2Q19
3Q19
4Q19
1Q20
Net debt to Equity
Leverage and EBITDA coverage
2Q20
3Q20
4Q20
1Q21
2Q21
1)
Reflects contractual amortization of our notes, estimated repayments to
maintain the maximum loan-to-value in our revolving facilities (based on
the current existing fleet absent any future capex), and the contractual
maturity of our existing revolving facilities (assuming no refinance/renewal).
3Q21
4Q21
1Q22
2Q22
3Q22
4Q22
1Q23
Net Debt to Adj EBITDA 2
EBITDA
coverage
8.0X
7.0X
6.0X
5.0X
2.
4.0X
3.0X
2)
Net debt: outstanding borrowings minus cash on hand.
Future debt repayments¹
2024
2025
2026
2023
2027
*Revolving credit faciliy maturing on 3Q27 (will be renewed
and extended prior to maturity)
Focused on matching our fixed-rate rental revenue to
fixed-rate financing, both in amount and duration, to limit
volatility and lock-in long-term profitability:
1. Our fixed-rate debt represents 91% of total debt,
closely matching the 98% of our fleet under fixed-
rate term and finance lease contracts.
The average remaining tenor of our fixed-rate
debt is 5.8 years, with staggered maturities, is
generally in line with the 6.0 years average
remaining lease term of our entire lease portfolio.
Continued de-leveraging during recent quarters of limited
capex.
Adj. EBITDA: adjustments include items such as debt termination expense (see reconciliation in Appendix). For this chart, we also included the
principal portion of our finance leases which is part of our monthly lease collections but not included in regular EBITDA.
13
t
XView entire presentation