International Container gives results of tender offer for Royal notes

Chicago, Nov. 17 – Philippines’ International Container Terminal Services, Inc. announced the results of its tender offer for subsidiary Royal Capital BV’s perpetual capital securities, according to a notice.

The company received tenders for $183,762,000 of the $400 million outstanding 5 7/8% senior guaranteed perpetual capital securities (ISIN: XS1740005811) and $85,222,000 of the $375 million outstanding 4 7/8% senior guaranteed perpetual capital securities (ISIN: XS1505134210).

All notes tendered were accepted for purchase.

As previously reported, the company was offering $1,024 per $1,000 notes for the first series and $1,044.50 per $1,000 note for the second series.

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

Settlement is planned for Nov. 19.

After settlement, there will be $216,238,000 of the 5 7/8% securities outstanding and $289,778,000 of the 4 7/8% securities outstanding.

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

The tender offer was 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) are the dealer managers.

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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