Results of Put option of Eurobonds
Global Ports Investments PLC ("Global Ports" or the "Company" and, together with its subsidiaries and joint ventures, the "Group") (LSE ticker: GLPR) today announces that USD 15,927,000.00 of the Outstanding notional of the USD 350,000,000 6.50 per cent. Guaranteed Notes due 2023 was successfully redeemed by exercising the Change of Control Put option, announced by the Company on 14 September 2022.
The new outstanding amount of the Notes following redemption is USD 281,348,000.00.
Global Ports also notes the success of the Direct Payment option offered to Noteholders for the first time for the September 2022 coupon payment in accordance with the amended Terms and Conditions of the Notes. The option was exercised by holders of USD 270,831,000.00 Notes of the previously outstanding USD 297,275,000.00 and consequently Global Ports had made payments in full to electing Noteholder under terms of the Direct Payment election and to Holders of the remaining USD 26,444,000.00, who have not opted for this option - via the standard procedure by delivering funds to the Principal Paying Agent.
Global Ports will continue to offer the Direct Payment option to interested Noteholders for upcoming payments.