ICTSI earns best corporate bond award

International Container Terminal Services, Inc. (ICTSI) has won The Asset’s Triple A Country Awards 2018 Best Corporate Bond – Philippines for the company’s USD400 million fixed-for-life perpetual securities issued in January last year.

ICTSI is the first ASEAN issuer to offer equity-accounted fixed-for-life senior perpetual securities in the international debt capital market.

Rafael Consing Jr., ICTSI senior vice president and chief financial officer, described the deal as “part of the Company’s strategy of prudent and value-accretive capital and risk management.

The Asset cited the transaction to have “allowed ICTSI to bolster its capital management strategy by extending its funding profile to match its long-term port concessions.”

The bond issue was arranged by joint lead managers Citibank, Credit Suisse, and Standard Chartered.

The annual Triple A Country Awards represents the industry’s most prestigious awards for banking, finance, treasury and the capital markets. It is organized by The Asset, Asia’s financial publishing group with the widest reach among Asian issuers and global institutional investors in the region.

The Asset Best Corporate Bond Award - Philippines
Gigi Miguel (center), International Container Terminal Services, Inc. (ICTSI) Vice President & Treasurer, accepted the award during The Asset Triple A Country Awards 2018 dinner held last 24 January at the Grand Ballroom, Four Seasons Hotel Hong Kong.

About International Container Terminal Services, Inc. (ICTSI)
Headquartered and established in 1988 in Manila, Philippines, International Container Terminal Services, Inc. (ICTSI) is in the business of port operations, management and development. ICTSI’s portfolio of terminals and projects spans developed and emerging market economies in the Asia Pacific, the Americas, Europe, Middle East and Africa. ICTSI has received global acclaim for its public-private partnerships with governments divesting of their port assets to the private sector. (www.ictsi.com