ITS Secures Green Loans with ING as Arranger and Sustainability Coordinator

Core Insights - ING Capital LLC has closed $424 million in credit facilities for International Transportation Service (ITS) to support a terminal redevelopment project that will increase yard capacity by 50% and electrify its fleet [1][2][3] Financing Details - The credit facilities consist of $224 million in taxable financing and $200 million in tax-exempt financing [2] - Up to $100 million of the credit facilities are designated as Green Loans aimed at procuring electrified terminal equipment [4] Terminal Redevelopment Plan - The redevelopment plan includes a slip-fill project with an estimated capital expenditure of approximately $300 million [3] - The expansion will allow ITS to accommodate up to two 18,000 Twenty-Foot Equivalent Unit (TEU) vessels simultaneously [3] Environmental Initiatives - ITS is making strategic investments in decarbonization initiatives to achieve net-zero emissions, in alignment with the California Clean Air Action Plan (CAAP) [4] - Key decarbonization strategies include electrification and the adoption of zero-tailpipe emissions equipment, such as hydrogen [4] Company Background - ITS is a container terminal operator at the Port of Long Beach, owned by a Macquarie Asset Management-managed vehicle [1][7] - Macquarie Asset Management manages approximately $633.7 billion in assets across various investment solutions [8]