ICTSI Sets Up Medium Term Note Program; Approves Issuance of First Tranche of Notes

Manila—(PHStocks)—The Board of Directors of International Container Terminal Services Inc. (PSE: ICT) has confirmed, ratified and approved the establishment of a medium term note program by its subsidiary ICTSI Treasury B.V., pursuant to which ICTSI Treasury may from time to time issue medium-term notes in one or more series to be guaranteed by the company. The aggregate nominal amount of notes outstanding that may be issued from the programme will not at any time exceed $750 million or its equivalent in other currencies.

In connection with the establishment of the program, the Board of Directors also approved and ratified the issuance of the first tranche of notes under the programme based on terms and conditions that will be determined and ratified by the Board of Directors in the coming days.