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Global Ports Inv (GLPR)

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Friday 16 August, 2019

Global Ports Inv

Global Ports Announces Bond Repurchase

RNS Number : 3170J
Global Ports Investments PLC
16 August 2019
 

 

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THIS ANNOUNCEMENT MAY CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.

For immediate release                                                                                                                  16 August 2019

Global Ports Announces Bond Repurchase

Global Ports Investments PLC ("Global Ports" or the "Company" and, together with its subsidiaries, the "Group") (LSE ticker: GLPR) today announces that financial arrangements have been made for its wholly-owned subsidiary Global Ports (Finance) Plc to purchase an aggregate principal amount of USD52,799,000 of Global Ports (Finance) Plc's USD350,000,000 6.872 per cent. notes due 2022 which were issued on 18 April 2016 (the "2022 Notes"). The 2022 Notes purchased will be held by the Group, and there is no current intention for them to be reissued, resold or cancelled. The aggregate principal amount of the 2022 Notes outstanding after the purchase will be USD273,087,000.

The purchase will be funded by the Group using cash flow from operations, reflecting the Group's continued strategic focus on deleveraging. 

ENQUIRIES

Global Ports Investor Relations

Mikhail Grigoriev / Tatiana Khansuvarova

+357 25 313 475

+7 916 991 73 96

Email: [email protected]

 

Global Ports Media Relations

Anna Vostrukhova

+357 25 313 475

E-mail: [email protected] 

 

Teneo

Zoë Watt / Douglas Campbell

+44 20 7260 2700

E-mail: [email protected]

NOTES TO EDITORS

Global Ports Investments PLC

Global Ports Investments PLC is the leading operator of container terminals in the Russian market by capacity and container throughput[1].

Global Ports' terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal[2] and Moby Dik[3] in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland[4] (Multi-Link Terminals in Helsinki and Kotka). Global Ports also owns inland container terminal Yanino Logistics Park[5] located in the vicinity of St. Petersburg.

Global Ports' revenue for 2018 was USD 343.6 million[6] and Adjusted EBITDA was USD 217.3 million. Consolidated Marine Container Throughput was 1,352 thousand TEU in 2018[7].

Global Ports' major shareholders are Delo Group, one of the largest private transportation and logistics holding companies in Russia (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals operates a global terminal network of 74 ports and 117 inland services facilities, giving it a global presence in 58 countries. 20.5% of the shares in Global Ports are traded in the form of global depositary receipts on the Main Market of the London Stock Exchange (LSE ticker: GLPR).

For more information please see:  www.globalports.com

LEGAL DISCLAIMER

Some of the information in these materials may contain projections or other forward-looking statements regarding future events or the future financial performance of Global Ports. You can identify forward looking statements by terms such as "expect", "plan", "project", "believe", "target", "anticipate", "estimate", "intend", "will", "could," "may", "should" or "might" or the negative of such terms or other similar expressions. Global Ports wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Global Ports does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Global Ports, including, among others, general political and economic conditions, the competitive environment, risks associated with operating in Russia and market change in the industries Global Ports operates in, as well as many other risks related to Global Ports and its operations.

 

 

[1] Management estimates based on the information published by the Association of Sea Commercial Ports ("ASOP"), www.morport.com and public sources.

[2] In which Eurogate currently has a 20% effective ownership interest.

[3] In which Container Finance currently has a 25% effective ownership interest.

[4] In each of which Container Finance currently has a 25% effective ownership interest.

[5] In which Container Finance currently has a 25% effective ownership interest.

[6] According to the Group's Consolidated Financial Information for 2018.

[7] According to the Group's operational results.

 


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