ICTSI unit to issue securities to be listed in Singapore

International Container Terminal Services, Inc. is raising fresh funds through the issuance by subsidiary Royal Capital B.V. of new senior perpetual securities guaranteed by ICTSI. In a disclosure to the Philippine Stock Exchange, ICTSI said the issue amount, tranches, distribution rates and other terms and conditions will be determined by the ICTSI Board of Directors and Royal Capital. “The New Securities to be issued under the New Securities Offer will be under such terms and conditions which will not require the Issuer to register the New Securities under the securities laws of any State of the United States or other jurisdiction, including the Philippines,” ICTSI said. The offering will be made pursuant to Regulation S under the United States Securities Act of 1933, as amended. In the Philippines, the offering will be made under circumstances in which the New Securities Offer qualify as exempt securities or pursuant to an exempt transaction under the Securities Regulation Code. The Issuer will also apply for the listing of the New Securities with the Singapore Exchange Securities Trading Limited. ICTSI has appointed Citigroup Global Markets Limited, Credit Suisse (Hong Kong) Limited and Standard Chartered Bank as joint lead managers for the new securities offer. It has also appointed Citicorp International Limited as trustee, Citibank, N.A., London Branch as principal paying agent and transfer agent and Citigroup Global Markets Deutschland AG as registrar. (JAL)