ICTSI approves unit issuing up to $750 million in bonds
International Container Terminal Services Inc. (ICT.PH) will announce soon the size of the first tranche of a medium-term bonds for its unit ICTSI Treasury B.V., it said Wednesday, Dow Jones reports.
International Container Terminal Services will guarantee the bonds, it added in a statement filed with the Philippine Stock Exchange.
The value of bonds issued by ICTSI Treasury "will not at any time exceed US$750 million, or its equivalent in other currencies," the statement said.
International Container Terminal Services operates ports in the Philippines, the Americas, Europe, Africa and elsewhere in Asia. It is looking to expand.
