Advertisement

ICTSI to retire $450-million securities

Royal Capital B.V., a subsidiary of port operator International Container Terminal Services Inc., announced a tender offer to all holders of $450-million, 5.5-percent senior guaranteed perpetual capital securities.

ICTSI said in a disclosure to the stock exchange its board approved the invitation by Royal Capital to tender for purchase for cash any and all the perpetual securities under such terms and conditions. 

The end of the tender offer will be on July 14, while the results will be announced the following day. The payment of the tender consideration is on or about July 16. 

The board also approved the issuance by Royal Capital of new senior perpetual securities guaranteed by ICTSI.  

The board of ICTSI also approved and ratified the appointment of Citigroup Global Markets Limited (Citigroup), The Hongkong and Shanghai Banking Corporation Limited (HSBC), and Standard Chartered Bank as joint lead managers for the new securities offer and as dealer managers for the tender offer. 

Topics: Royal Capital B.V. , International Container Terminal Services Inc. , tender offer
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by manilastandard.net readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of manilastandard.net. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementSpeaker GMA
Advertisement