Amsterdam assists ICTSI on USD 350m bond tender offer

The Amsterdam office assisted Philippines’ container terminal operator ICTSI on a USD 350m tender offer for outstanding perpetual bonds issued through their Dutch issuing vehicle. New perpetual securities are expected to be issued shortly. The buy-back of the outstanding bonds provides investors the opportunity to lock in profits and, together with the new securities to be issued, offers ICTSI significant cost savings. The team was led by Amsterdam tax partner Remco Smorenburg, assisted by Niels Kolsté, Gijs van Leeuwen and Gino Bell.