BY F. YAP SECURITIES / 2TRADEASIA
International Container Terminal Service Inc. (ICT) said its offshore subsidiary is issuing new senior perpetual securities at a minimum yield of 6.375% per annum.
The unit, Royal Capital B.V. is selling bonds simultaneously as it buys back $350 million of 8.375%-yield bonds. The tender offer for the old notes will end 21 January.
Final pricing was set 22 January.