Philippines-headquartered International Container Terminal Services, Inc. (ICTSI) has secured a USD750 million loan from Metropolitan Bank & Trust Co. (Metrobank) to further expand its worldwide port operations.   

ICTSI inks USD750 million loan facility with Metrobank to boost operations_1_0

In photo (from left): ICTSI VP and Treasurer Arnie Tablante; ICTSI EVP, Chief Compliance Officer and Chief Sustainability Officer Christian R. Gonzalez; Metrobank President Fabian Dee; ICTSI Chairman and President Enrique K. Razon Jr.; Metrobank Chairman Arthur Ty; Metrobank EVP, Institutional Banking Sector Head Mylene Caparas; and Metrobank SVP, Corporate Banking Group Head Anton Yap.

Proceeds of the six-year loan facility will be used to refinance the global port operator’s short-term obligations and to fund strategic mergers and acquisitions (M&A).  

“Our long-standing relationship with Metrobank enables us to carry out our objective of continuously making our terminals around the world more globally competitive, more efficient, and more accessible. At the same time, this relationship enables us to act more proactively on M&A opportunities of all sizes,” said Christian R. Gonzalez, ICTSI executive vice president, chief compliance officer and chief sustainability officer.