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HomeTurkish Maritime NewsGlobal Ports Holding extends demand period for bond holders

Global Ports Holding extends demand period for bond holders

Global Ports Holding, a subsidiary of Global Investment Holding, left behind an important stage for the refinancing of the 250 million dollar Eurobond with a maturity of November 2021. Continuing to negotiate for refinancing, GPH has extended the deadline, previously reported as 19 March 2021, to April 14, 2021 for bond holders to submit their requests.

Global Ports Holding (GPH), the world’s largest cruise port operator and subsidiary of Global Investment Holding, left behind an important stage by adhering to its strategy of reducing debt.

Global Ports Operations, a wholly-owned subsidiary of GPH, which has a portfolio of 19 ports in 13 countries on 4 continents and is listed on the London Stock Exchange, deferring the maturity and refinancing of Eurobonds with a maturity of 21 November 2021 and an amount of 250 million USD. continues to negotiate.

Having transferred the Port Akdeniz in its portfolio to QTerminals based in Qatar with a price of US $ 140 million, GPH announced that they will meet the majority of the refinancing with the revenue obtained from this.

EXTENDED TIME FOR BOND HOLDERS

In the announcement made by GPH, it was stated that negotiations with bond holders are continuing, and there is a high belief that these negotiations will result in positive results and the Eurobond will be refinanced. For this purpose, it was stated that the previously announced period for the bond holders to submit their requests was extended from 19 March 2021 to April 14, 2021.

At the end of the book building process, it is aimed to redeem a significant part of the total debt under the Eurobond before its maturity and to extend the time for the remaining part.

News2Sea

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