Singapore, 28 June 2022- CS Leasing Holding Pte. Ltd. (‘CS Leasing’ or the ‘Company’), is pleased to announce the recent completion of its first Term Loan facility between a CS Leasing asset owning subsidiary and Bank of America, N.A.
The new Term Loan increases the CS Leasing group’s aggregate available lender commitments to $375 million, which are expected to further increase in the near future to fund ongoing growth. Proceeds from CS Leasing’s debt facilities are used to finance the Company’s owned fleet of intermodal containers with an aggregate value of $500 million, including over 25,000 tank containers.
The Company’s bank and lender group includes KeyBank N.A., Bank of America N.A., TIAA FSB, ING Belgium SA/NV and Zions Bancorporation N.A., dba California Bank and Trust.
CS Leasing continues to build a diversified fleet of high-quality intermodal container assets, including standard dries, dry freight specials and ISO tanks. Operating since 2016, the CS Leasing fleet is one of the youngest in the industry. This new Term Loan diversifies CS Leasing’s funding facilities, adding to the Company’s already strong financial backing, and supports the Company in its continued long-term growth and expansion plans.