From ICTSI’s hometown newspaper in the Philippines, the Manila Bulletin:

International Container Terminal Services, Inc. (ICTSI) has successfully closed and signed what it described as inaugural “innovative’’ Loan Facility Program and a US$350 million syndicated revolving credit facility with a large group of international and domestic banks.

In a disclosure to the Philippine Stock Exchange, ICTSI said its Loan Facility Program is the first such structure established by an Asian corporate. The Program serves as a master platform from which other loan type financing instruments can be issued as required.

The facility was originally launched at US$250 million, and was subsequently increased to US$350 million on the back of strong demand from banks from the Asia-Pacific syndicated loan market.

More at the Manila Bulletin