ICTSI raises $300-M from notes offer
MANILA, Philippines - International Container Terminal Services, Inc. has raised $300 million from the issuance of 10-year notes.
In a statement, bookrunner HSBC said the transaction was almost 18 times over-subscribed, with orders totaling $5.5 billion from 180 high-quality fixed-income investors.
The notes, issued through subsidiary ICTSI Treasury B.V., were part of the company's $750-million Euro Medium Term Note Program.
The notes were issued at a coupon rate of 4.625%.
"We are deeply grateful to all our partners who have continued to support ICTSI. This is a testament to ICTSI’s status as a leading and innovative Philippine issuer in the international markets," Rafael J. Consing, Jr., ICTSI Treasurer, said in the statement.