CAI International, Inc. (NYSE:CAI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
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Entry into a Material Definitive Agreement. |
On June 16, 2017, CAI International, Inc. (the Company) and
Container Applications Limited (CAL) entered into a Commitment
Increase, Amendment No. 5 and Joinder (the Amendment) to amend
certain provisions of that certain Third Amended and Restated
Revolving Credit Agreement, by and among the Company, CAL, the
guarantors named therein, Bank of America, N.A., as a lender and
administrative agent of the lenders, the other lending
institutions party thereto, Merrill Lynch, Pierce, Fenner Smith
Incorporated (Merrill Lynch), MUFG Union Bank, N.A. (MUFG) and
Wells Fargo Bank, N.A., as syndication agents, Merrill Lynch,
MUFG and Wells Fargo Securities, LLC, as joint lead arrangers and
book managers, and Bank of Montreal (Chicago branch), JPMorgan
Chase Bank, N.A. and Santander Bank N.A. as co-agents (the Credit
Agreement). Among other things, the Amendment amends the Credit
Agreement to (i) increase the total commitment level from $775
million to $960 million, (ii) revise the commitments of various
lenders under the Credit Agreement, and (iii) to add certain
additional lenders to the Credit Agreement.
The foregoing summary of the Amendment does not purport to be
complete, and is subject to and is qualified in its entirety by
the terms of the Amendment, which is attached hereto as Exhibit
10.1, and incorporated herein by reference.
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Item 2.03. |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information disclosed in Item 1.01 above is incorporated by
reference into this Item 2.03.
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Item 9.01. |
Financial Statements and Exhibits. |
(d) Exhibits.
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Exhibit No. |
Description |
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10.1 |
Commitment Increase, Amendment No. 5 and Joinder, dated June 16, 2017, by and among CAI International, Inc., Container Applications Limited, the guarantors named therein, Bank of America, N.A., as a lender and administrative agent of the lenders, the other lending institutions party thereto, Merrill Lynch, Pierce, Fenner Smith Incorporated, MUFG Union Bank, N.A. and Wells Fargo Bank, N.A., as syndication agents, Merrill Lynch, Pierce, Fenner Smith Incorporated, MUFG Union Bank, N.A. and Wells Fargo Securities, LLC, as joint lead arrangers and book managers, and Bank of Montreal (Chicago branch), JPMorgan Chase Bank, N.A. and Santander Bank N.A. as co-agents. |
CAI International, Inc. ExhibitEX-10.1 2 ex10_1.htm EXHIBIT 10.1 Exhibit 10.1 COMMITMENT INCREASE,…To view the full exhibit click here About CAI International, Inc. (NYSE:CAI)
CAI International, Inc. is a transportation finance and logistics company. The Company purchases equipment, which it leases primarily to container shipping lines, freight forwarders and other transportation companies. The Company operates through three segments: container leasing, rail leasing and logistics. It also manages equipment for third-party investors. In operating the Company’s fleet, it leases, re-leases and disposes equipment and contract for the repair, repositioning and storage of equipment. Its equipment fleet consists primarily of intermodal marine containers. The Company owns a fleet of railcars of various types, including 50 feet and 60 feet box cars for paper and forest products; covered hoppers for grain, cement, sand and plastic pellets; general purpose tank cars that are used to transport food-grade and other non-hazardous commodities; gondolas for coal, and general service flat cars. It also offers intermodal, truck brokerage and logistics services.
