DJ Launches Eurobond tender offer
Global Ports Holding PLC (GPH)
Launches Eurobond tender offer
07-Apr-2021 / 08:31 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Global Ports Holding Plc
Launches Eurobond tender offer
This announcement is for information purposes only and is not an offer to purchase or a solicitation of an offer to
sell any securities. This announcement is not for distribution or publication in or into the United States of America
or any other jurisdiction in which it would be unlawful to do so. The Offer is being made only to holders of the Notes
who are non-U.S. persons outside the United States in reliance on Regulation S under the U.S. Securities Act of 1933,
as amended.
Global Ports Holding Plc ("GPH" or the "Group"), the world's largest independent cruise port operator, announces today
that its wholly owned subsidiary Global Liman Isletmeleri A.S. (the "Offeror") has today launched an offer for up to USD7
5.0 million of its USD250,000,000 8.125% Senior Unsecured Notes due 2021.
The Offer
The Offer is being made upon the terms and subject to the conditions set forth in the Tender Offer Memorandum, which is
available at https://www.globalportsholding.com/gli-eurobond-financing-register.php. The maximum purchase price that
will be accepted by the Offeror for the Notes, will be determined through a reverse Unmodified Dutch Auction process.
The details for which are laid out in the Tender Offer Memorandum. The Offer commences on 7 April 2021 and will expire
at 4.00pm on 13 April 2021, unless extended.
Rationale for the Offer
The purpose of the Offer is to enable the Offeror to acquire and cancel its outstanding Notes, thereby reducing the
outstanding principal amount thereof and related interest expense, which is consistent with the Offeror's ongoing
liability management objectives and its strategy to proactively address the upcoming maturity of the Notes.
The Group is currently in the advanced stages of securing additional liquidity which, if received, the Group intends to
use to redeem outstanding Notes; however, there can be no assurance that such financing will be obtained prior to the
maturity of the Notes or at all.
CONTACT
For investor, analyst and financial media enquiries: For media enquiries:
Investor Relations Global Ports Holding, Company Secretary
Martin Brown Alison Chilcott
Email: martinb@globalportsholding.com Email: alisonc@globalportsholding.com -----------------------------------------------------------------------------------------------------------------------
ISIN: GB00BD2ZT390
Category Code: MSCH
TIDM: GPH
LEI Code: 213800BMNG6351VR5X06
Sequence No.: 97567
EQS News ID: 1181591
End of Announcement EQS News Service
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(END) Dow Jones Newswires
April 07, 2021 03:32 ET (07:32 GMT)
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