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CAI International, Inc. Announces Receipt by Subsidiary CAL Funding IV Limited of Requisite Consents in Consent Solicitation Relating to its 2.22% Fixed Rate Asset-Backed Notes, Series 2020-1, Class A
SAN FRANCISCO--(BUSINESS WIRE)-- CAI International, Inc. (NYSE: CAI) (“CAI” or the “Company”), one of the world’s leading transportation finance companies,
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[{"type":"text","content":" SAN FRANCISCO--(BUSINESS WIRE)--\nCAI International, Inc. (NYSE: CAI) (“CAI” or the “Company”), one of the world’s leading transportation finance companies, announced today that its subsidiary CAL Funding IV Limited (“CAL Funding”) has received the requisite consents, under a consent solicitation (the “Consent Solicitation”) related to CAL Funding’s 2.22% Fixed Rate Asset-Backed Notes, Series 2020-1, Class A (the “Notes”), to enter into a supplemental indenture to affect certain amendments to and waivers under the indenture, dated September 9, 2020, between CAL Funding and Wilmington Trust, National Association, as trustee, as amended. The amendments and waivers were sought in connection with the proposed migration (the “Migration”) of the jurisdiction of certain of the Company’s subsidiaries, including CAL Funding, to the United States, which migration is among the conditions to closing of the previously-announced proposed acquisition by merger (the “Merger”) of CAI by Mitsubishi HC Capital Inc. (“MHC”). The amendments to the indenture will become effective immediately prior to, and contingent upon, the effectiveness of the Migration, which will precede the closing of the Merger.\n\nThe Consent Solicitation expired at 5:00 p.m., New York City time, on July 28, 2021 (the “Expiration Time”). The holders who delivered valid and unrevoked consents prior to the Expiration Time will receive a cash payment of $1.00 multiplied by the Notes’ scaling factor as of the Expiration Time of the Consent Solicitation per each $1,000 original principal amount of Notes for which consents were delivered by such holders. Such payment is expected to be made immediately prior to the Migration.\n\nWells Fargo Securities served as the solicitation agent for the Consent Solicitation. D.F. King & Co., Inc. served as the information agent and tabulation agent for the Consent Solicitation.\n\nThis announcement is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any Notes or any other securities. This announcement is also not a solicitation of consents with respect to the Notes or any other securities.\n\nAbout CAI International, Inc.\n\nCAI is one of the world’s leading transportation finance companies. As of March 31, 2021, CAI operated a worldwide fleet of approximately 1.8 million CEUs of containers....