ICTSI gets $250-m loan to fund expansion
Global port operator International Container Terminal Services Inc. yesterday said it has secured a $250-million loan to finance new acquisitions and support its operations here and abroad.
ICTSI told the Philippine Stock Exchange that its wholly-owned subsidiary, ICTSI Capital BV, signed the revolving and term loan facility agreement with a consortium of international banks on Dec. 5.
ICTSI Capital BV is a single purpose holding company incorporated in the Netherlands to act as the borrower under this facility.
The facility, guaranteed by ICTSI, “is intended to refinance various loans, fund new acquisitions, and to finance general working capital requirement of the group.”
Lead arrangers of the loan were Calyon, Citibank N.A. Manila Branch/Citigroup Global Markets Asia Limited; Hong Kong and Shanghai Bank; Australia and New Zealand Bank; Bank of China; CITIC Ka Wah Bank; First Commercial Bank; Mega International Commercial Bank, Offshore Banking Branch; Mizuho Corporate Bank; and Sumitomo Mitsui Bank.
Lender banks were DnB NOR Bank ASA, Singapore Branch; Sumitomo Trust and Banking Co. Ltd., Singapore Branch; Bank of Tokyo-Mitsubishi UFJ, Ltd., Manila Branch; Maybank Philippines Inc.; P.T. Bank Negara Indonesia (Persero) Tbk, Hong Kong Branch; P.T. Bank Negara Indonesia (Persero) Tbk, Singapore Branch; Societe Generale; Cathay United Bank; Chinatrust (Philippines) Commercial Bank; Taiwan Business Bank, Offshore Banking Branch; and Shanghai Commercial and Savings Bank, Ltd. Offshore Banking Branch.
ICTSI operates five terminals in the Philippines, namely Manila, Subic, Batangas, General Santos and Davao.
Overseas operations include ports in Brazil, Poland, Japan, Madagascar, Indonesia, Syria, China, Ecuador and Georgia.
ICTSI said it invested P9 billion in the first nine months of 2007 to fund capacity expansion in Manila, Brazil and Madagascar, and new businesses/start-up costs in China, Syria, Ecuador, Colombia and Georgia.
By Roderick T. dela Cruz
ICTSI told the Philippine Stock Exchange that its wholly-owned subsidiary, ICTSI Capital BV, signed the revolving and term loan facility agreement with a consortium of international banks on Dec. 5.
ICTSI Capital BV is a single purpose holding company incorporated in the Netherlands to act as the borrower under this facility.
The facility, guaranteed by ICTSI, “is intended to refinance various loans, fund new acquisitions, and to finance general working capital requirement of the group.”
Lead arrangers of the loan were Calyon, Citibank N.A. Manila Branch/Citigroup Global Markets Asia Limited; Hong Kong and Shanghai Bank; Australia and New Zealand Bank; Bank of China; CITIC Ka Wah Bank; First Commercial Bank; Mega International Commercial Bank, Offshore Banking Branch; Mizuho Corporate Bank; and Sumitomo Mitsui Bank.
Lender banks were DnB NOR Bank ASA, Singapore Branch; Sumitomo Trust and Banking Co. Ltd., Singapore Branch; Bank of Tokyo-Mitsubishi UFJ, Ltd., Manila Branch; Maybank Philippines Inc.; P.T. Bank Negara Indonesia (Persero) Tbk, Hong Kong Branch; P.T. Bank Negara Indonesia (Persero) Tbk, Singapore Branch; Societe Generale; Cathay United Bank; Chinatrust (Philippines) Commercial Bank; Taiwan Business Bank, Offshore Banking Branch; and Shanghai Commercial and Savings Bank, Ltd. Offshore Banking Branch.
ICTSI operates five terminals in the Philippines, namely Manila, Subic, Batangas, General Santos and Davao.
Overseas operations include ports in Brazil, Poland, Japan, Madagascar, Indonesia, Syria, China, Ecuador and Georgia.
ICTSI said it invested P9 billion in the first nine months of 2007 to fund capacity expansion in Manila, Brazil and Madagascar, and new businesses/start-up costs in China, Syria, Ecuador, Colombia and Georgia.
posted by OlongapoCity Zambales at
12:49 PM
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