Global Ports unit to redeem 8 1/8% notes on June 30 with new loan

Chicago, June 1 – Global Ports Holding plc subsidiary Global Liman Isletmeleri AS announced that the issuer will redeem any and all of its outstanding 8 1/8% senior notes due November 2021 at par plus interest on June 30, according to a notice.

The same series, according to the Prospect News archive, was involved in an unmodified Dutch auction tender offer with the issuer paying $899.40 per $1,000 principal amount of notes. The tender offer took place in April.

Financing for the redemption will come from a recently announced loan financing.

After the tender offer there were $200.3 million of the notes outstanding.

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

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