By Christine Van Dusen
Atlanta, Jan. 22 – Philippines-based International Container Terminal Services Inc. sold $300 million 6¼% perpetual notes at 99.551 to yield 6 3/8%, or Treasuries plus 499.3 basis points, on Thursday, a market source said.
Citigroup and HSBC were the bookrunners for the Regulation S deal.
The new securities were issued concurrently with a tender offer for existing perpetual securities.
International Container is a Manila-based port operator.
| Issuer: | International Container Terminal Services Inc.
|
| Amount: | $300 million
|
| Maturity: | Perpetual
|
| Description: | Senior guaranteed perpetual capital securities
|
| Bookrunners: | Citigroup, HSBC
|
| Coupon: | 6¼%
|
| Price: | 99.551
|
| Yield: | 6 3/8%
|
| Spread: | Treasuries plus 499.3 bps
|
| Trade date: | Jan. 22
|
| Distribution: | Regulation S
|
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