January 24, 2018, 9:46 am
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Port operator raises $50M

International Container Terminal Services Inc. said it has raised $50 million from a new senior perpetual securities raised by unit Royal Capital B.V. guaranteed by the company and was incorporated into ICTSI’s previously-issued senior guaranteed perpetual capital securities. 

ICTSI said the funding will be used to finance its acquisitions and capital expenditures for the year. 

The company said the bond carries the same terms as the $350-million senior guaranteed perpetual capital securities offered earlier, carrying a coupon of 5.875 percent, and is callable by May 5, 2022.

The issuer will apply for the listing of the New Securities with the Singapore Exchange Securities Trading Ltd.

ICTSI has appointed Citigroup Global Markets Ltd., Credit Suisse (Hong Kong) Ltd. and Standard Chartered Bank as joint lead managers for the new securities offer.

It has also appointed Citicorp International Ltd. as trustee, Citibank, N.A., London Branch as principal paying agent and transfer agent and Citigroup Global Markets Deutschland AG as registrar.
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