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Global Ports Holding PLC - London-based cruise port operator - Says its subsidiary San Juan Cruise Port LLC successfully reaches financial closing of the public-private partnership agreement and simultaneously concluded the debt financing for the initial phase of its investment in San Juan Cruise Port in Puerto Rico. The PPP was achieved through the issuance by San Juan Cruise Port of two bonds totalling USD187 million. Global Ports says the company has now taken over cruise operations at the port for Global Ports Holding.
Global Ports Americas Regional Director Mike Maura says: "We are delighted to welcome San Juan Cruise Port into the world's largest cruise port network. As well as being a fantastic destination, San Juan is a strategically important port that is perfectly positioned to play a pivotal role in Eastern and Southern Caribbean itineraries for decades to come. Our investment into this port will see hundreds of millions of US dollars invested into San Juan Cruise Port, transforming the port infrastructure and significantly improving the cruise port experience for passengers while creating significant opportunities for local businesses to benefit from the expected growth in cruise passenger volumes."
Current stock price: 247.00 pence each, up 0.8% on Monday afternoon in London
12-month change: up 54%
By Tom Budszus, Alliance News slot editor
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