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WKN: A2DRWD ISIN: GB00BD2ZT390 Ticker-Symbol: 6P9 
Frankfurt
24.09.21
10:17 Uhr
1,525 Euro
+0,015
+0,99 %
Branche
Logistik/Transport
Aktienmarkt
Sonstige
1-Jahres-Chart
GLOBAL PORTS HOLDING PLC Chart 1 Jahr
5-Tage-Chart
GLOBAL PORTS HOLDING PLC 5-Tage-Chart
RealtimeGeldBriefZeit
1,5401,60511:21
Dow Jones News
303 Leser
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Global Ports Holding PLC: Extension of Eurobond tender offer period

DJ Extension of Eurobond tender offer period

Global Ports Holding PLC (GPH) 
Extension of Eurobond tender offer period 
14-Apr-2021 / 07:20 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Global Ports Holding Plc 
Extension of Eurobond tender offer period 
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, provides an update 
regarding the offer made by its wholly owned subsidiary Global Liman Isletmeleri A.S. (the Offeror) for up to USD75.0 
million of its USD250,000,000 8.125% Senior Unsecured Notes due 2021. 
 
Extension of Expiration Deadline 
The Expiration Deadline will be extended to 4.00 p.m. on 16 April 2021 or such later date as may be notified to the 
Noteholders in exercise of the right of the Offeror to delay the acceptance of Notes for purchase pursuant to the 
Offer, extend, re-open, withdraw or terminate the Offer and to amend or waive any of the terms and conditions of the 
Offer. 
 
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. 
 
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 on-going 
liability management objectives and its strategy to proactively address the upcoming maturity of the Notes. 
 
Ratings Developments 
Subsequent to the launch of the tender offer, on 12 April 2021, Moody's Investors Service ("Moody's") downgraded the 
long-term corporate family rating of the Offeror to Caa2 from Caa1 and the probability of default rating ("PDR") to 
Ca-PD from Caa1-PD. Concurrently, Moody's downgraded its rating of the Notes to Caa3 from Caa2. The Offeror outlook 
remains negative. Moody's is expected to classify the tender offer as a distressed exchange and append the "LD" 
designation to its PDR following settlement. 
 
Strategic Alternatives 
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. 
 
The Offeror is also evaluating the feasibility of utilising formal processes to restructure the Notes in other 
applicable jurisdictions. 
 
 
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.: 98846 
EQS News ID:  1184413 
 
End of Announcement EQS News Service 
=------------------------------------------------------------------------------------ 
 

(END) Dow Jones Newswires

April 14, 2021 02:20 ET (06:20 GMT)

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© 2021 Dow Jones News
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