ABS Is Back For Some

In the first intermodal container ABS term financing since 2007, TAL Advantage IV, a wholly owned subsidiary of TAL International issued $197 million Series 2010-1 Fixed Rate Secured Notes. Rated “A” by S&P, the Notes were issued at par with an annual interest rate of 5.5% have a scheduled maturity date of July 20, 2020 and a final legal maturity of July 21, 2025. The net proceeds will be used to purchase containers and for other general business purposes.

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