By Marisa Wong
Morgantown, W.Va., Aug. 19 – International Container Terminal Services, Inc.’s subsidiary, Royal Capital BV, priced $450 million of senior perpetual capital securities on Tuesday, according to a 17-C filing with the Philippine Securities and Exchange Commission.
The perpetual notes are guaranteed by the parent company.
The notes will be reoffered at par to yield 5˝%.
Citigroup Global Markets Ltd., Credit Suisse Securities (Europe) Ltd. and Standard Chartered Bank are the joint lead managers and bookrunners for the Regulation S offering.
International Container is a Manila-based port operator.
| Issuer: | Royal Capital BV
|
| Guarantor: | International Container Terminal Services, Inc.
|
| Issue: | Senior perpetual capital securities
|
| Amount: | $450 million
|
| Maturity: | Perpetual
|
| Bookrunners: | Citigroup Global Markets Ltd., Credit Suisse Securities (Europe) Ltd., Standard Chartered Bank
|
| Coupon: | 5˝%
|
| Reoffer price: | Par
|
| Yield: | 5˝%
|
| Pricing date: | Aug. 18
|
| Distribution: | Regulation S
|
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