Global Ports Regulatory News (GPH)

Global Ports Holding Plc

Result of Eurobond tender offer

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Global Ports Holding Plc (GPH or the Group), the world's largest independent cruise port operator, today announces the results of the tender offer made by its wholly owned subsidiary Global Liman Isletmeleri A.S. (the Offeror) for up to $75.0 million of its $250,000,000 8.125% Senior Unsecured Notes due 2021 ("Notes").

The terms and conditions of the Offer are set forth in a tender offer memorandum originally dated 7 April 2021, as supplemented by a tender offer memorandum supplement dated 14 April 2021 (collectively, the "Tender Offer Memorandum").

The Offer expired at 4:00 p.m. on 16 April 2021. Following the unmodified Dutch Auction procedure conducted in connection with the Offer, the weighted average purchase price of the Notes validly tendered and accepted by the Offeror was determined to be U.S.$899.4 for each U.S.$1,000 in principal amount of such Notes.

The total amount of cash used in connection with the Offer is U.S.$44.7m excluding accrued interest on the Notes validly tendered and accepted.

The settlement for Notes accepted for purchase by the Offeror is expected to be 19 April 2021. Following the completion of the tender offer, U.S. $200.3m of Notes will remain outstanding.

The Offeror and its subsidiaries, parent entities and stakeholders will continue to monitor the Offeror's financial and liquidity positions and evaluate its options regarding its financing alternatives in relation to the Notes that remain outstanding following settlement of the Offer.