Global Ports Share Discussion Threads

[my retirement fund] 08/2/2021 16:12

Guessing the counter offer by bondholder forgiveness is a 99% equity grap and the present equity is now worthless

[livewireplus] 05/2/2021 11:24

Just some more overall positive stuff:MSC Cruises announced today that it is working closely with the Greek Ministry of Tourism and other authorities for the reopening of local services in time to serve cruise passengers visiting Greece starting with the upcoming Easter holiday period, according to a press release.hTTps://www.cruiseindustrynews.com/cruise-news/24318-msc-cruises-aims-to-restart-greece-program-by-easter.html?s=03

[livewireplus] 30/1/2021 15:45

Cruise Ships Back in Service February 2021 UpdatehTTps://www.cruiseindustrynews.com/cruise-news/24279-cruise-ships-back-in-service-february-2021-update.html

[dartboard1] 14/1/2021 19:05

Ok ... bonds trading up now at 82.50. This is getting refinanced. Go on the website, you have to request a copy of the proposal to bond holders, but don't have to be a bond holder. Not unreasonable terms, around 6.5% cash paid or 8% pik for a couple of years. I guarantee you as soon as the pensioners are vaccinated (less than two months now) the first thing slot of them will be doing is booking a cruise. ..

[eaaxs06] 08/1/2021 11:45

Global Ports Holding PLC (GPH)
Refinancing of Eurobond

07-Jan-2021 / 18:58 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

Global Ports Holding Plc

Refinancing of Eurobond

Global Ports Holding Plc, the world's largest independent cruise port
operator, announces that its wholly owned subsidiary Global Liman
Isletmeleri A.S. (the "Issuer") has today published a proposal to the
holders of its $250,000,000 8.125% Senior Unsecured Notes due 2021 (the
"Notes") for the refinancing of the Notes.

This aims to address the upcoming maturity and provide the business with a
more stable, deleveraged capital structure.

The documentation related to such proposal is subject in full to the
disclaimers set out therein. By accessing this documentation, you will be
deemed to have acknowledged, accepted and agreed to be bound by such
disclaimers, including the limitations of liability and all other terms and
conditions therein.

[cc2014] 08/1/2021 11:17

It says it will lead to a more stable deleveraged capital structure.

You can draw your own interpretation but this implies less bonds going forward...

I don't know what the prospectus says

[dartboard1] 08/1/2021 10:55

Please post a link if anyone finds details of the proposal

[dartboard1] 08/1/2021 10:39

So, GPH have sent a proposal to their bond holders today. Not sure details are publicly available yet.But, the price of the bonds has risen lately from 72 up to 79... this is looking good for the refinancing and removing the main downward pressure on the share price (other than no boats coming to their ports... lol) .. I bought these as a bet on them refinancing these, so hopefully it's in motion

[ken chung] 21/12/2020 08:47

Down it goes.Lemmings and mushrooms only.

[tomboyb] 10/12/2020 10:10

150p+ perhaps -

[livewireplus] 10/12/2020 03:06

Covid-19: How Covid cruise ships are navigating troubled waters - hTTps://www.bbc.co.uk/news/world-55241333

[dartboard1] 08/12/2020 11:34

And yes, they've sold the commercial port (or agreed to sell it), but the Eurobonds were issued in 2014 when their cruise business was much smaller, so passenger numbers and revenue stream is much bigger now (or at least it is when they're allowed to open). Meanwhile the price of the bonds which traded down to 45 is back up above 70 implying quite a good chance of repayment... under the circumstances

[dartboard1] 08/12/2020 11:28

The parent company won't want to dilute their own equity, and looking at their own balance sheet doesn't look like they could fund it themselves. So pretty sure the idea is to refinance the Eurobonds with a new bond. If ships start to sale again, then it shouldn't be a problem just will depend on what interest rate they need to pay investors. Remember they raised a $150m bond at 8% to fund Nassau and this was at peak Corona panic in May

[hatfullofsky] 05/12/2020 10:37

What are your views on an equity raise to cover the $110 shortfall on the EuroBond.

Not sure they could raise another bond after selling Akedeniz.

This is the only issue stopping me investing, at the moment.

Any help / information would be appreciated

[w1lbur01] 04/12/2020 09:18

Agree about Sterling. But as a vaccine and an agreement on brexit seem built in to this rally. We seem to be getting ahead of our self's and a no deal will swiftly bring the uk listed market down quickly

[cc2014] 04/12/2020 09:14

A no deal Brexit will see Sterling collapse which would be good for GPH share price.


But, you may be right in that the market will be in turmoil as the market has now strongly bet on a deal (which seems odd to me as I cannot personally see this is a nailed on certainty)

[w1lbur01] 04/12/2020 09:07

I think it will take all shares listed in the uk down

[dartboard1] 04/12/2020 08:59

They have no operations in the UK,

[w1lbur01] 04/12/2020 08:57

A no deal brexit would probably pause this rally

[livewireplus] 04/12/2020 08:54

Indeed ... nice rise on no GPH specific news ... will await to see what the rise will be on some good GPH RNS.How does the song go - 'Way hay and up she rises' (Druken Sailor) :-)

[dartboard1] 04/12/2020 08:54

What's brexit got to do with this stock?

[w1lbur01] 04/12/2020 08:34

Off we go again very cheap brexit being the caveat

[tomboyb] 01/12/2020 09:09

60 odd % is held tightly -

Profit taking so now the bounce back to 120-130p -

[magicmayhem] 01/12/2020 09:08

Only just bought into this a few weeks ago. Why does it bounce around so much on so little volume