Global Ports subsidiary Global Liman Isletmeleri extends offer to buy 8 1/8% notes

By Rebecca Melvin

Concord, N.H., April 14 – Global Ports Holding plc subsidiary Global Liman Isletmeleri AS is extending the expiration deadline for its offer to buy up to $75 million of its $250 million 8 1/8% senior notes due in November 2021, according to a notice.

The expiration will be extended to 4 p.m. ET on April 16 from 11 a.m. ET on April 13.

The company is also attempting to secure additional liquidity, which is intended to be used to redeem the notes, and it is also evaluating formal restructuring of the notes in applicable jurisdictions.

The issuer is a cruise and commercial ports company based in Karakoy, Turkey.

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