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July 21, 2024

Metrobank OKs $750M loan to ICTSI for global expansion

Metropolitan Bank & Trust Company (Metrobank) has granted a substantial $750-million loan to International Container Terminal Services Inc. (ICTSI), the world’s largest independent terminal operator.

This loan represents ICTSI’s largest credit facility and Metrobank’s most extensive bilateral facility, with the aim of supporting ICTSI’s global port expansion efforts and strategic mergers and acquisitions.

Christian Gonzalez, the Executive Vice President, Chief Compliance Officer, and Chief Sustainability Officer of ICTSI, emphasized their enduring partnership with Metrobank, which has facilitated ICTSI’s mission to enhance the global competitiveness, efficiency, and accessibility of its terminals.

This collaboration has also empowered them to proactively pursue opportunities in mergers and acquisitions.

In response, Bankero and Metrobank’s Institutional Banking Sector Head, Mylene Caparas, highlighted ICTSI’s pivotal role in various markets and its contributions to global economic growth, expressing Metrobank’s pride in supporting ICTSI’s global endeavors.