By Susanna Moon
Chicago, Jan. 11 – International Container Terminal Services Inc. said its subsidiary Royal Capital BV plans to issue another $50 million of 5 7/8% senior perpetual securities as an add-on to the issue offered on Wednesday.
The issue was approved at a board meeting held Thursday and will be consolidated and form a single series with the $350 million 5 7/8% senior guaranteed perpetual capital securities initially offered Jan. 10, according to a notice.
The company sold $350 million of the 5 7/8% perpetuals on Jan. 10 with proceeds to be used to finance acquisitions and capital expenditures and also slated for general corporate purposes, according to an announcement.
The deal was announced Jan. 5. The securities will be guaranteed by International Container.
Citigroup Global Markets Ltd., Credit Suisse (Hong Kong) Ltd. and Standard Chartered Bank are joint lead managers 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 guaranteed perpetual capital securities
|
| Amount: | $400 million, upsized from $350 million
|
| Maturity: | Perpetual
|
| Managers: | Citigroup Global Markets Ltd., Credit Suisse (Hong Kong) Ltd. and Standard Chartered Bank
|
| Coupon: | 5 7/8%
|
| Call option: | On any distribution payment date beginning May 5, 2022
|
| Pricing date: | Jan. 10 (for original issue)
|
| Distribution: | Regulation S
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
