General Finance Corporation (NASDAQ:GFN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry Into a Material Definitive Agreement
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1
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Item 9.01
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Financial Statements and Exhibits
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(“Royal Wolf Holdings”), Royal Wolf Trading Australia Pty
Limited (“Royal Wolf Australia”), Kookaburra Containers Pty
Ltd. (“Kookaburra”), Royalwolf Trading New Zealand Limited
(“Royal Wolf New Zealand), Royalwolf NZ Acquisition Co. Limited
(“Royalwolf NZ” and collectively with Royal Wolf Holdings,
Royal Wolf Australia, Kookaburra, Royal Wolf Zealand and
Royalwolf NZ, “Royal Wolf”), Australia and New Zealand Banking
Group Limited (“ANZ”), and ANZ Bank New Zealand Limited (“ANZ
New Zealand”) entered into that certain Second Variation Deed
(“ANZ Second Variation Deed”) to the ANZ Multicurrency Facility
Agreement for the senior secured credit facility (the “Credit
Facility”) of Royal Wolf.
Wolf Australia, Kookaburra, Royalwolf Trading New Zealand
Limited, Royalwolf NZ and Commonwealth Bank of Australia
(“CBA”) entered into that certain Second Variation Deed (the
“CBA Second Variation Deed”) to the CBA Multicurrency Facility
Agreement for the Credit Facility.
Second Variation Deed, and the CBA Multicurrency Facility
Agreement contain, as modified by the CBA Second Variation Deed,
contain the following principal terms:
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the refinanced Credit Facility is for A$100 million, a
reduction of A$25 million, with the total senior secured multi-option debt facility being A$150 million; |
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the maturity date of the Credit Facility is January 31,
2022; and |
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the interest rate on the new five-year tranche from ANZ
is at the bank bill swap interest rate in Australia (BBSY) or New Zealand (BKBM), plus a margin of 1.40%-2.40% per annum, depending on the net debt leverage ratio, as defined. The interest rate under the CBA Second Variation deed is the bank bill swap interest rate in Australia (BBSY) or New Zealand (BKBM), plus a margin of 1.75% to 2.65%. |
and Royal Wolf New Zealand entered into that certain Common Terms
Deed Poll (the “Deed Poll”). The Deed Poll contains terms and
conditions which apply to the ANZ Multicurrency Facility
Agreement, as modified by the ANZ Second Variation Deed, and the
CBA Multicurrency Facility Agreement, as modified by the CBA
Second Variation Deed.
Deed and the Deed Poll are attached as Exhibits 10.1, 10.2 and
10.3, respectively, and are incorporated herein by reference.
CBA Second Variation Deed and the Deed Poll are qualified in
their entirety by the ANZ Second Variation Deed, the CBA Second
Variation Deed and the Deed Poll, which are attached hereto as
Exhibits 10.1, 10.2 and 10.3, respectively, hereto and are
incorporated by reference herein.
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Exhibit
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Exhibit Description
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10.1
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Second Variation Deed dated December 15, 2016 (in
Australia) among Royal Wolf Holdings Limited, Royal Wolf Trading Australia Pty Limited, Kookaburra Containers Pty Ltd. Royalwolf Trading New Zealand Limited, Royalwolf NZ Acquisition Co. Limited, Australia and New Zealand Banking Group Limited and ANZ Bank New Zealand Limited |
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10.2
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Second Variation Deed dated December 15, 2016 (in
Australia) among Royal Wolf Holdings Limited, Royal Wolf Trading Australia Pty Limited, Kookaburra Containers Pty Ltd. Royalwolf Trading New Zealand Limited, Royalwolf NZ Acquisition Co. Limited and Commonwealth Bank of Australia |
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10.3
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Common Terms Deed Poll
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About General Finance Corporation (NASDAQ:GFN)
General Finance Corporation is a specialty rental services company. The Company offers a range of portable storage units, including its core 20-feet and 40-feet steel containers, office container, mobile office and modular space products and steel tanks. It has two geographic areas that include its four operating segments: the Asia-Pacific area, consisting of the leasing operations of Royal Wolf Holdings Limited and its Australian and New Zealand subsidiaries (Royal Wolf), and North America, consisting of the combined leasing operations of Pac-Van, Inc. and its Canadian subsidiary, PV Acquisition Corp. (Pac-Van) and Lone Star Tank Rental Inc. (Lone Star), and the manufacturing operations of GFN Manufacturing Corporation and its subsidiary, Southern Frac, LLC (Southern Frac). As of June 30, 2016, the Company provided its storage solutions to over 41,000 customers across a range of industries, including commercial, construction, retail, transportation, education and others. General Finance Corporation (NASDAQ:GFN) Recent Trading Information
General Finance Corporation (NASDAQ:GFN) closed its last trading session up +0.20 at 5.60 with 47,184 shares trading hands.