Global terminal operator International Container Terminal Services (ICTSI) is to raise around US$450 million in capital via a bond issues so it can fund further expansion plans for its global portfolio of container terminals, according to Port Finance International.
The decision comes off the back of an 8% revenue spike for H1, 2015, with takings passing the $550 million mark for this period.
The operator has recently sold its stake in Japan’s Naha International Container Terminal for around $880,000 as the group continues to optimize operations and focus more on reducing holdings in other corporations.