Philippines' International Container unit completes exchange offer for 7 3/8% notes

By Susanna Moon

Chicago, Sept. 9 - International Container Terminal Services, Inc.'s subsidiary ICTSI Treasury BV completed the exchange offer and consent solicitation for its $450 million 7 3/8% senior notes due 2020, according to a 17-C filing with the Securities and Exchange Commission.

The exchange offer ended at noon ET on Sept. 6, and results of the offer will be announced by Sept. 12. The offer began Aug. 15.

In exchange for tendered notes, the company previously said it will issue new notes under its $1 billion medium-term note program.

Citigroup Global Markets Ltd. and Credit Suisse Securities (Europe) Ltd. will be the dealers.

International Container is a Manila, Philippines-based port operator.

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