BY RCBC SECURITIES
International Container Terminal Service Inc. (ICT) offshore subsidiary, Royal Capital B.V, will run a tender offer until January 21 to redeem $350 million of its 8.375% subordinated guaranteed perpetual securities and subsequently sell new notes.
ICT will guarantee the senior perpetual securities that will be issued.
This is part of ICT’s strategy to manage the maturity profile of its existing debt obligations.
ICT will announce the initial yield guidance for the new notes on January 19, with final pricing expected on January 22.