Seaco SRL Subsidiaries Successfully Complete Consent Solicitation From Fixed Rate Note Holders
High Street Bridgetown, Barbados, June 22, 2026 (GLOBE NEWSWIRE) -- Global SC Finance V SRL (“GSCF V”), Global SC Finance VII SRL (“GSCF VII”) and Global SC Finance X Limited (“GSCF X” and, together with GSCF V and GSCF VII, the “Issuers”) today announced that the Issuers have successfully completed their previously announced consent solicitations (the “Consent Solicitations”) to amend certain agreements (the “Note Agreements”) relating to prior issuances by the Issuers of fixed rate notes (“Container-Backed Notes”) secured by intermodal containers (the “Containers”), in the case of GSCF V and GSCF VII, and residual cash flows from outstanding issuances of Container Backed Notes, in the case of GSCF X. The amendments to the Note Agreements are intended, among other things, (i) to permit Textainer Equipment Management Limited (“TEML”) to manage the Containers on behalf of GSCF V and GSCF VII in a manner consistent with TEML’s management of intermodal containers owned by TEML and its subsidiaries, (ii) to more closely conform default event and other provisions in the Note Agreements to similar provisions in the agreements governing outstanding secured indebtedness of other TEML affiliates and (iii) to make certain conforming changes in the Note Agreements for GSCF X.
The proposed amendments include amendments to the indenture to which each Issuer is party and the supplemental indenture governing each series of the Notes of GSCF V and GSCF VII, as well as the contribution and sale agreement, the management agreement and the manager transition agreement relating to GSCF V and GSCF VII and the servicing agreement relating to GSCF X (in each case, the “Proposed Amendments” relating to such Issuer).
The Consent Solicitations were made to the holders of the Class A Notes of each Series of Container-Backed Notes and the Class B Notes of GSCF V Series 2019-1 (collectively, the “Subject Notes”) in accordance with the terms and subject to the conditions set forth in two Consent Solicitation Statements, each dated June 11, 2026. Approval of the Proposed Amendments required the consent of the holders of not less than a majority of the aggregate unpaid principal balance of each series of the Subject Notes (the “Requisite Consents”). The Requisite Consents were received prior to 5:00 p.m., New York City time, on June 18, 2026 (the “Revocation Deadline”).
Upon the satisfaction of certain conditions described in the Consent Solicitation Statements, holders of the Subject Notes who validly delivered (and did not validly revoke) consents to the applicable Proposed Amendments in the manner described in the respective Consent Solicitation Statements will be eligible to receive a consent fee equal to $1.25 per $1,000 unpaid principal balance of the Notes with respect to which Consents were delivered, as described in the Consent Solicitation Statements. The Proposed Amendments are expected to be entered into on the “Execution Date,” which will occur after the date of this announcement Payment of the consent fee is expected to be made no later than the Execution Date.
D.F. King & Co., Inc. served as the tabulation agent for the Consent Solicitations. RBC Capital Markets, LLC served as the solicitation agent for the Consent Solicitations.
This press release is being provided solely to provide information about the Consent Solicitations and is neither an offer to purchase nor a solicitation of an offer to sell the Container-Backed Notes or any other securities.
About Seaco
Seaco has operated since 1965 as one of the largest lessors of intermodal shipping containers. In December 2025, Global Sea Containers Ltd, the parent of Seaco SRL, was acquired by Typewriter Ascend Ltd, a Bermuda entity controlled by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets. Stonepeak also owns Textainer Group Holdings Limited. The combined Textainer and Seaco fleet of approximately 8.3 million CEU is the world’s largest and most diversified container fleet on a CEU basis.
Contact
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Email: textainer@dfking.com
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