International Container Terminal Services Inc. (ICTSI) said it is preparing for a senior note issuance under the US’ Registration S that will be registered with the Singapore Exchange Securities Trading Limited.
The company has appointed Citigroup Global Markets Limited, Credit Suisse (Hong Kong) Limited and J.P. Morgan Securities plc as joint lead managers for the issuance “at such issue amount, tranche(s), distribution rate(s) and other terms and conditions as the Board of Directors of the company may subsequently approve or ratify.” ICTSI said it has also appointed Citicorp International Limited as trustee and Citibank, N.A. London Branch as principal paying agent, transfer agent and registrar.
The company added the senior notes issuance will not require it to register the securities under the securities laws of the US and the Philippines.
“The senior notes offer, if made, will be made pursuant to Regulation S under the United States Securities Act of 1933, as amended. In the Philippines, the senior notes offer, if made, will be made under circumstances in which the senior notes offer qualify as exempt securities or pursuant to an exempt transaction under the Securities Regulation Code,” ICTSI said.
“If the company proceeds with the senior notes offer, the company will also apply for the listing of the senior notes with the Singapore Exchange Securities Trading Limited,” it added.