International Container Terminal Services, Inc. (ICTSI) has secured a US$1-billion, 10-year term loan from BDO Unibank, giving the Philippine port operator additional financing capacity as it presses ahead with expansion projects in the country and overseas.
ICTSI signed the loan facility agreement with BDO on Sept. 22, with the company serving as the borrower. The company did not disclose the interest rate, repayment structure or specific allocation of the proceeds.
The financing comes as ICTSI implements a US$740-million capital expenditure program for 2026. The company said its spending is focused on the completion and expansion of terminals across its global network, including projects in the Philippines, Mexico, Brazil and the Democratic Republic of Congo.
A major portion of the investment is going toward Phase 3B of the Contecon Manzanillo terminal in Mexico. The expansion is expected to raise the facility’s annual handling capacity to about 2 million twenty-foot equivalent units, from roughly 1.8 million TEUs. The project includes an additional 227 meters of quay as well as new quay cranes and rubber-tired gantries.
ICTSI is also expanding its Philippine operations. Its flagship Manila International Container Terminal recently received a 25-year extension of its concession, extending operations until 2063. The agreement includes the expansion of MICT’s Berth 8, with annual terminal capacity projected to reach about 3.7 million TEUs by 2027.
The company is pursuing additional investments overseas as well. In Brazil, ICTSI has announced plans to invest about US$130 million to acquire concessions for two dry bulk terminals at Aratu Port in Bahia. The group also has expansion projects planned in Honduras, Australia and Ecuador.
ICTSI’s financial position has also strengthened alongside its expansion. For the first half of 2026, the company reported net income attributable to equity holders of US$589.98 million, up 22% year on year, while revenue from port operations increased 27% to US$1.92 billion. Container throughput rose 16% to 8.12 million TEUs, helped by contributions from recently acquired terminals.
The new borrowing adds to ICTSI’s existing debt obligations. As of June 30, the company reported total indebtedness of US$3.37 billion, with 91% of its long-term loans falling due from 2028 onward. ICTSI said 85% of its debt was fixed-rate and 15% floating-rate at the time.
With operations spanning 19 countries and six continents, ICTSI is using a combination of capital spending, acquisitions and terminal expansions to grow its international footprint. The US$1-billion facility gives the company additional long-term financing as it continues investing in port capacity and infrastructure across its network.
The scale of the loan also underscores the financing requirements of ICTSI’s expansion strategy, with the company balancing new investments against its existing debt and the performance of terminals in different markets.
