INTERNATIONAL Container Terminal Services, Inc. (ICTSI) on Tuesday said that it had signed a $1-billion term loan facility agreement with BDO Unibank Inc.
In a disclosure to the Philippine Stock Exchange (PSE), ICTSI said the facility has a tenor of 10 years, but it did not state where the loan will be used for.
The company acquired was said to have come up with a $740 million capital expenditure program for 2026 to be utilized mainly for the development of its ports.
These consist of the Contecon Manzanillo S.A. (CMSA) in Mexico; Manila International Container Terminal (MICT), Manila North Harbor Port Inc. (MNHPI), Mindanao Container Terminal (MCT), and South Luzon Container Terminal (SLCT) in the Philippines; ICTSI Rio in Brazil; and Matadi Gateway Terminal (MGT) in the Democratic Republic of Congo.
ICTSI said the capital expenditures will also be used for various equipment acquisitions and upgrades; maintenance capital expenditures; and expansion projects at Operadora Portuaria Centroamericana, SA de CV (OPC) in Honduras; Victoria International Container Terminal Ltd. (VICT) in Australia; Contecon Guayaquil S.A. (CGSA) in Ecuador; and another CMSA facility in Mexico.
On Tuesday, ICTSI’s share price rose by P9.50 to P907.50 each, while that of BDO fell by P1.30 to P112.00 apiece.
