By Christine Van Dusen
Atlanta, March 11 - Philippines' International Container Terminal Services Inc. priced $250 million notes due 2020 at par to yield 7 3/8%, according to an informed market source.
SBC and JPMorgan were the bookrunners for the Regulation S-only deal.
Proceeds will be used to fund the company's investments in existing and new terminal construction activities, to refinance some of its existing debt and for other general corporate purposes.
International Container Terminal Services is based in Manila and develops, manages and operates container ports and terminals.
| Issuer: | International Container Terminal Services Inc.
|
| Amount: | $250 million
|
| Maturity: | 2020
|
| Bookrunners: | SBC, JPMorgan
|
| Coupon: | 7 3/8%
|
| Price: | Par
|
| Yield: | 7 3/8%
|
| Trade date: | March 11
|
| Settlement date: | March 17
|
| Distribution: | Regulation S only
|
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