Textainer Marine Containers Limited (TMCL) closed its $400 million ABS deal Series 2011-1 Fixed Rate Asset Backed Notes.

A press release by TMCL stated that the scheduled term of payment is ten years, with a maximum term of 15 years, and the fixed interest rate is 4.70% per annum.

The transaction was lead managed by Wells Fargo Securities and Bank of America Merrill Lynch

The co-managers on the deal were ABN AMRO Bank, BNP Paribas, Credit Suisse, DVB Bank, ING Bank, SunTrust Robinson Humphrey and Unicredit Bank AG.

TMCL is a subsidiary of Textainer Group Holdings, a lessor of intermodal containers.

Textainer noted that proceeds from this transaction would be used to pay outstanding TMCL debt and for general corporate funding purposes.

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