ICTSI and Metrobank officials pose for a photo after the closing of a $750-million loan facility deal. (from left) ICTSI VP and treasurer Arnie Tablante; ICTSI EVP, chief compliance officer and chief sustainability officer Christian Gonzalez; Metrobank president Fabian Dee; ICTSI chairman and president Enrique Razon Jr.; Metrobank chairman Arthur Ty; Metrobank institutional banking sector head Mylene Caparas, and Metrobank corporate banking group head Anton Yap.
MANILA – International Container Terminal Services, Inc. (ICTSI), a leading global port operator spearheaded by billionaire Enrique Razon Jr., has successfully secured a $750-million loan from Metropolitan Bank & Trust Co. to further expand its port operations worldwide.
This loan facility is the largest ever obtained by ICTSI and represents the biggest bilateral facility provided by Metrobank.
The proceeds from this six-year loan will be utilized to refinance the short-term obligations of the global port operator and fund strategic mergers and acquisitions.
ICTSI has a proven track record of investing in both new and existing terminals, driving the growth of its offshore and domestic operations.
“Our enduring partnership with Metrobank enables us to continuously enhance the global competitiveness, efficiency, and accessibility of our terminals worldwide. Additionally, this relationship empowers us to proactively pursue M&A opportunities of all scales,” remarked Christian R. Gonzalez, ICTSI’s Executive Vice President, Chief Compliance Officer, and Chief Sustainability Officer.
“Metrobank has been a valuable partner in expanding our global portfolio and establishing our position as one of the Philippines’ truly global corporate players,” added Gonzales.
Metrobank views its financial support for ICTSI as a means to fulfill its ambitious strategic development plans and drive further economic growth.
“ICTSI plays a crucial role in multiple markets, with its efforts to foster growth catalysts worldwide setting the Filipino standard as a goal for all. We are pleased to lend our support to ICTSI’s global initiatives and proud to contribute to its success,” stated Mylene Caparas, Metrobank’s Institutional Banking Sector Head.
This year, ICTSI has allocated $400 million for its capital expenditures, aimed at improving the productivity and effectiveness of its various terminals.
In 2019, ICTSI Global Finance B.V., an ICTSI subsidiary, also secured a seven-year loan amounting to $300 million from Metrobank. The funds were used to finance capital expenditures and refinance existing obligations at the time.
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Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
