Legal DealFolio - International Container Terminal Services Perpetual Securities Tender Offer

Milbank, Tweed, Hadley and McCloy advised on the successful tender offer for existing perpetual capital securities and concurrent new issuance of senior perpetual capital securities of International Container Terminal Services, Inc. (ICTSI), one of the largest port operators in the world, with a total of 29 common user container terminals located in 21 countries globally and having total annual throughputs ranging from 50,000 to 2,500,000 twenty-foot equivalent units. Milbank advised Citigroup and HSBC as dealer managers on the invitation by Royal Capital B.V. (Royal Capital), a subsidiary of ICTSI, to holders (the Securityholders) of Royal Capital's USD350 million 8.375% Guaranteed Subordinated Perpetual Capital Securities (the Securities) guaranteed by ICTSI, to tender any or all of their Securities for cash (the Tender Offer). The Tender Offer, which commenced on January 12, 2015 and expired on January 21, 2015, was conditional upon the pricing of a new issue of US dollar Senior Guaranteed Perpetual Capital Securities of Royal Capital also guaranteed by ICTSI (the New Securities). The Milbank team for the transaction was led by partner James Grandolfo and counsel Paul Pery, with support from associates Adam Heyd and York Wu.

Deal Date:	30-01-2015	Practice Area:	Equity Capital Markets
Deal Title:	International Container Terminal Services Perpetual Securities Tender Offer	Industry:	Industrial Transportation
Description:	Milbank, Tweed, Hadley and McCloy advised on the successful tender offer for existing perpetual capital securities and concurrent new issuance of senior perpetual capital securities of International Container Terminal Services, Inc. (ICTSI), one of the largest port operators in the world, with a total of 29 common user container terminals located in 21 countries globally and having total annual throughputs ranging from 50,000 to 2,500,000 twenty-foot equivalent units. Milbank advised Citigroup and HSBC as dealer managers on the invitation by Royal Capital B.V. (Royal Capital), a subsidiary of ICTSI, to holders (the Securityholders) of Royal Capital's USD350 million 8.375% Guaranteed Subordinated Perpetual Capital Securities (the Securities) guaranteed by ICTSI, to tender any or all of their Securities for cash (the Tender Offer). The Tender Offer, which commenced on January 12, 2015 and expired on January 21, 2015, was conditional upon the pricing of a new issue of US dollar Senior Guaranteed Perpetual Capital Securities of Royal Capital also guaranteed by ICTSI (the New Securities). The Milbank team for the transaction was led by partner James Grandolfo and counsel Paul Pery, with support from associates Adam Heyd and York Wu.
Financial Center:	Hong Kong	Value:	100.01-500.00
Advised Party:	Financial Advisors	Law Firm	Milbank
	Hong Kong		Hong Kong
Classification:	Share Repurchase Schemes	Lawyer	James Grandolfo

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Equity Capital Markets Law Firms and Lawyers

Practice Areas - Equity Capital Markets Law Firms and Lawyers