Algeco/Scotsman Holding S.a r.l. (together with its subsidiaries, "Algeco Scotsman"), the leading global business services provider of modular space, secure portable storage solutions and remote workforce accommodations, today announced that certain of its U.S., Canadian, U.K., Australian and New Zealand subsidiaries (the "Borrowers") entered into an Amended and Restated Revolving Syndicated Facility Agreement, dated December 19, 2013 (the "A&R Credit Agreement"), with Bank of America, N.A., as collateral agent and administrative agent, and the financial institutions parties thereto. The A&R Credit Agreement amends and restates the Revolving Syndicated Facility Agreement, dated as of October 11, 2012, as previously amended from time to time prior to the A&R Credit Amendment. Capitalized terms not otherwise defined in this press release have the meanings set forth in the A&R Credit Agreement.

The A&R Credit Agreement provides for an upsizing of the credit facility by up to US$500 million. Subject to the terms and conditions of the A&R Credit Agreement, the Borrowers may request incremental increases in the revolving commitments and/or incremental term loans up to a combined aggregate amount of US$500 million so long as the borrowing restrictions and other terms and conditions set forth in the A&R Credit Agreement are satisfied. In connection therewith, the Borrowers entered into a U.S. Revolver Commitment Increase Supplement (the "Increase Supplement") in order to establish an incremental revolving credit facility. The Increase Supplement will increase the aggregate revolving commitments under the A&R Credit Agreement by $155 million, subject to certain customary conditions as further described therein and in the A&R Credit Agreement.

The A&R Credit Agreement also provides that Algeco Scotsman's subsidiary, Target Logistics Management, LLC, and its subsidiaries, may at the option of Algeco Scotsman and upon the termination of certain existing capital leases, become Borrowers and have their assets included in the applicable Borrowing Base calculations. Additionally, the A&R Credit Agreement provides, among other things, for an increase in the basket for Capital Leases and Sale-Leasebacks from EUR 35 million to EUR 50 million, for the ability for certain "non-recourse" subsidiaries in the U.S. and Canada to incur non-recourse indebtedness that is not guaranteed by a Loan Party, and for modifications to several commitment size thresholds, including but not limited to the triggers for a Borrowing Base Test Event, a Cash Dominion Event, and a Financial Covenant Test Event.