Global Ports Holding PLC (GPH) 
Completes Eurobond refinancing 
30-Jul-2021 / 07:00 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 
Completes Eurobond refinancing 
Global Ports Holding Plc ("GPH" or "Group"), the world's largest independent cruise port operator, is pleased to 
announce that it has now completed its new five-year loan agreement for up to USD261.3 million, with leading global 
investment firm Sixth Street. As a result, GPH has concluded the early repayment of the USD200.3 million outstanding 
amount, plus accrued interest, of the 8.125% senior unsecured Eurobond, due 14 November 2021, issued by GPH's 
wholly-owned subsidiary Global Liman Isletmeleri A.S. 
The board and management of GPH explored a number of alternative refinancing options related to the Eurobond. Following 
that process, the unanimous view was that the financing arrangement with Sixth Street was in the best interests of the 
Company, its shareholders, as well as wider stakeholders. 
The loan agreement provides for two term loan facilities, an initial five-year term facility of USD186.3m and an 
additional five-year growth facility of up to USD75.0m. At a General Meeting held on 9 June 2021, certain resolutions 
were passed related to issuing warrants to Sixth Street representing 9.0% of the issued share capital, and these 
warrants have now been issued. Resolutions were also passed related to issuing further warrants to Sixth Street, 
pro-rata to the utilisation of the USD75.0 million growth facility. The warrants become exercisable upon certain specific 
events, including the acceleration, repayment in full or termination of the loan, de-listing of GPH or a change of 
The new loan agreement has been secured with minimal dilution to existing shareholders despite the significant impact 
of the Covid-19 pandemic on the cruise industry and all cruise industry stakeholders. 
Growth Financing 
The five-year, senior secured loan agreement for up to USD261.3 million with Sixth Street facilitated the repayment to 
Eurobond noteholders and provides flexible growth capital for GPH to pursue an exciting number of expansion 
opportunities at a dynamic juncture in the global cruise industry. 
Global Ports Holding, Chairman and Co-Founder Mehmet Kutman said: 
 "The cruise industry has recently faced unprecedented challenges. As it emerges from the Covid-19 pandemic, it is 
clear that the demand for cruising remains strong. Our loan agreement and partnership with Sixth Street not only 
secures our current financing needs but provides the financial flexibility to support our ambitions to be the cruise 
port operator of choice for leading cruise port stakeholders all over the world. We look forward to using this capital 
to continue to expand the business and take advantage of the current significant pipeline of growth opportunities." 
For investor, analyst and financial media enquiries: 
Investor Relations 
Martin Brown 
Telephone: +44 (0) 7947 163687 
ISIN:          GB00BD2ZT390 
Category Code: MSCH 
TIDM:          GPH 
LEI Code:      213800BMNG6351VR5X06 
Sequence No.:  118816 
EQS News ID:   1222854 
End of Announcement  EQS News Service 
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(END) Dow Jones Newswires

July 30, 2021 02:00 ET (06:00 GMT)

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