ICTSI raises $300-M from notes offer

Posted at 01/11/13 2:20 PM

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.