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Prospect News home > News index > List of issuers I > Headlines for International Container Terminal Services, Inc. > News item
Published on 11/8/2021 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

International Container starts tender offer for Royal perpetual notes

Chicago, Nov. 8 – Philippines’ International Container Terminal Services, Inc. is inviting noteholders to tender any and all of their notes from two series, according to an announcement.

The company is offering to buy the $400 million outstanding 5 7/8% senior guaranteed perpetual capital securities (ISIN: XS1740005811) for $1,024 per $1,000 note and the $375 million outstanding 4 7/8% senior guaranteed perpetual capital securities (ISIN: XS1505134210) for $1,044.50 per $1,000 note.

The issuer on the notes is listed as Royal Capital BV with International Container as the guarantor.

The offer expires at 11 a.m. ET on Nov. 16.

Results will be announced on Nov. 17, and settlement is planned for Nov. 19.

International Container is also offering new dollar-denominated fixed-rate guaranteed senior notes.

Tendering noteholders will be looked upon favorably in terms of allocations for the new notes.

Tendering noteholders who wish to subscribe to the new issue should reach out to the dealer managers to indicate their intention as soon as possible, as the new notes are expected to price before the end of the tender offer.

The tender offer is conditional upon the pricing of the new notes.

Citigroup Global Markets Ltd. (+852 2501 2692, +44 20 7986 9000 or liabilitymanagement.asia@citi.com) and HSBC Ltd. (+852 3941 0223, +44 20 7992 6237 or liability.management@hsbcib.com).

Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130 or ictsi@investor.morrowsodali.com, https://bonds.morrowsodali.com/ICTSI) is the tender and information agent.

International Container is a Manila-based port operator.


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