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Global Ports Holding raises $261m financing to pursue growth opportunities

CRUISE_Valletta.jpg
Valletta Cruise Port — one of Global Ports Holdings' 20 ports
Global Ports Holding (GPH) and global investment firm Sixth Street have entered into a $261m financing arrangement strengthening GPH’s balance sheet and providing flexible growth capital for GPH to pursue expansion opportunities.

‘GPH operates ports in some of the most important cruise hubs in the Caribbean and Mediterranean and benefits from real scale across the world’s major cruise destinations,’ said Michael Griffin, partner at Sixth Street and head of the specialty lending team in Europe.

He added that GPH is well-positioned to continue to grow its long-term relationships in key markets as the cruise industry and the local economies that depend on it begin to recover.

Financial flexibility

Emre Sayın, CEO of GPH, called the capital raise ‘timely’ and said it ‘reinforces our position as the market leader and gives us the financial flexibility to take advantage of growth opportunities with the resumption of cruising.’

He added, ‘We appreciate Sixth Street providing us with financing certainty at an important moment for the global cruise industry, and we look forward to using this capital to continue to expand our business.’

With the latest addition of Taranto Cruise Port to its network, today Global Ports Holding operates 20 ports in 13 countries.

Two ports, Valletta Cruise Port and Marina Bay Cruise Centre Singapore, have started operations and GPH stated all its cruise ports which have been awarded the ‘Safe Travels’ stamp by the WTTC are ready to welcome cruise passengers.

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