Best corporate bond one year on
Philippines-headquartered International Container Terminal Services (ICTSI) has won The Asset’s Triple A Country Awards 2018 Best Corporate Bond – Philippines for the company’s USD 400 million fixed-for-life perpetual securities issued in January 2018.
The company is the first Asean issuer to offer equity-accounted fixed-for-life senior perpetual securities in the international debt capital market. The jury said the transaction “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. (cd)