Global Ports Investments has confirmed that it has raised $350m in Eurobonds as it looks to diversify its sources of funding.
The seven-year bonds carry a coupon of 6.5% per annum and are due to mature in September 2023. They are expected to be rated ‘BB’ by Fitch and ‘Ba3’ by Moody’s.
Global Ports, which is listed in London, said net proceeds from the offering will be used for the repayment of existing group debt.
