ICTSI returns with a $200 million tap

International Container Terminal Services Inc taps its recent $250 million 10-year issue that priced in mid-March, increasing the size to $450 million.

International Container Terminal Services Inc ICTSI returned to the Asian bond market yesterday with a $200 million tap of its recent 2020 bonds that were issued on March 14 this year. With an original issue size of $250 million this brings the total deal size to $450 million.

The bonds pay a coupon of 7.375% and yesterday's re-offer was set at 102.627 for a yield of 7%. This was equivalent to a spread of 322.9bp over 10-year Treasuries. The...

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