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Global Ports Holding PLC - cruise port operator - Says its wholly owned subsidiary Global Liman Isletmeleri AS has launched an offer for up to USD75.0 million of its USD250 million 8.125% senior unsecured notes due 2021. The purpose of the offer is to enable Global Liman Isletmeleri to acquire and cancel its outstanding notes, thereby reducing the outstanding principal amount thereof and related interest expense.
In addition, Global Ports says it is currently in the advanced stages of securing additional liquidity which, if received, the company intends to use to redeem outstanding notes.
Current stock price: 140.00 pence, up 3.5% on Wednesday
Year-to-date change: up 38%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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