Independent cruise port operator, Global Ports Holding (GPH) and affiliates of Sixth Street, a global investment firm, have entered into a $261 mill financing arrangement.
This new investment from Sixth Street will strengthen GPH’s balance sheet and provide flexible growth capital for the company to pursue expansion opportunities at a dynamic juncture in the global cruise industry, GPH said.
“As the world’s largest independent cruise port operator, this timely capital raise reinforces our position as the market leader and gives us the financial flexibility to take advantage of growth opportunities with the resumption of cruising,” said H Emre Sayın, Global Ports Holding CEO (pictured).
“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.”
“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, Sixth Street Partner and head of the Specialty Lending team in Europe.
“We believe 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.”
The transaction is expected to close next month.