ICTSI signs $750 million loan deal with Metrobank

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="International Container Services, Inc. (ICTSI) port and terminal in Manila. Handout/File" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/business/11/07/20210729-ictsi-port-ho-1.jpg"/><figcaption>International Container Services, Inc. (ICTSI) port and terminal in Manila. <em>Handout/File</em></figcaption></figure></div><p>MANILA — Razon-led International Container Terminal Services, Inc. (ICTSI) has taken a $750 million loan from Metrobank to expand its port operations worldwide.</p><p>The ports giant said the six-year loan facility will be used to refinance its short-term obligations and fund strategic mergers and acquisitions.</p><p>ICTSI said this is its biggest loan to date, and the largest bilateral facility extended by Metrobank.</p><p>&quot;This relationship enables us to act more proactively on (mergers and acquisitions) opportunities of all sizes,&quot; said ICTSI Executive Vice President Christian Gonzalez.</p><p>ICTSI earmarked $400 million for its capital expenditures in 2023 to boost the productivity and effectivity of its various terminals. </p><p>ICTSI&#x27;s net income grew 7 percent to $313.80 million in the first half of 2023.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/07/22/ictsi-posts-4651m-net-income-for-first-9-months-of-2022">Enrique Razon&#x27;s ICTSI posts $465.1M net income for first 9 months of 2022</a></li>	<li><a href="https://news.abs-cbn.com/business/08/10/23/forbes-wealth-of-philippines-50-richest-rises-11-pct">Forbes: Wealth of Philippines&#x27; 50 richest rises 11 percent</a></li></ul><div><strong>RELATED STORY: </strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2087819" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

ICTSI has taken a $750 million loan from Metrobank to expand its port operations worldwide.

ICTSI signs $750 million loan deal with Metrobank 

ICTSI signs $750 million loan deal with Metrobank | ABS-CBN

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ICTSI signs $750 million loan deal with Metrobank

ICTSI signs $750 million loan deal with Metrobank

ABS-CBN News

Published Aug 31, 2023 11:47 AM PHT

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ICTSI

International Container Terminal Services Inc.

Enrique Razon

loan

Metrobank

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