SOVEREIGN DEBT RESTRUCTURING | MASTERCLASS

A deep dive masterclass on sovereign debt restructuring, to be conducted virtually by Asian high yield bond expert Florian Schmidt.

30 June 2022 (Thu), 5pm Singapore/HK time

International Container Terminal Services (ICTSI) announced results of its cash tender offer:

  • $183.762mn in principal of its 5.875% Perps tendered at $1,024 per $1,000 in principal
  • $85.222mn in principal of its 4.875% Perps tendered at $1,044.5 per $1,000 in principal
The 5.875% and 4.875% Perps, issued by Royal Capital BV, currently trade at 101.875 and 104.013 yielding 1.77% and 3.17% respectively. The tender offer follows a new $300mn unrated 10Y bond issuance last week that priced at par to yield 3.5%.

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