Completes Eurobond refinancing

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 $261.3 million, with leading global investment firm Sixth Street. As a result, GPH has concluded the early repayment of the $200.3 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 $186.3m and an additional five-year growth facility of up to $75.0m. 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 $75.0 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 control. 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 $261.3 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." CONTACT For investor, analyst and financial media enquiries: Investor Relations Martin Brown Telephone: [phone] Email: [e-mail]

ISIN:	GB00BD2ZT390
Category Code:	MSCH
TIDM:	GPH
LEI Code:	213800BMNG6351VR5X06
Sequence No.:	118816
EQS News ID:	1222854

End of Announcement	EQS News Service