Global Ports Holding Plc announced that it has issued USD 330 million of secured private placement notes (Notes) to insurance companies and long-term asset managers at a fixed coupon of 7.87%. The Notes have received an investment grade credit rating from two rating agencies and will fully amortize over 17 years, with a weighted average maturity of c13 years. The majority of the proceeds have been used to repay in full the outstanding senior secured loan from Sixth Street, including early repayment fees and accrued interest.

The balance of proceeds from the Notes will primarily be used to fund further Caribbean expansion and the payment of transaction costs. This financing generates material savings of cash interest expenses and creates a stable, long-term funding base for the Group. Further, it secures the financing of its growth pipeline.