Completes project financing and begins cruise operations at San Juan Cruise Port, Puerto Rico
Source: EQS
Completes project financing and begins cruise operations at San Juan Cruise Port, The successful long-term project financing was achieved through the issuance, by San Juan Cruise Port, of two bonds totalling The bonds have received an investment grade credit of BBB- from S&P. The Series A bond will fully amortize 21 years, with a weighted average duration of c19 years. The Series B bond will fully amortize over 15 years, with a weighted average duration of c12 years. Port investment San Juan Cruise Port is currently a popular transit port and homeport. However, the cruise port infrastructure needs significant investment to ensure continued operations over GPH’s 30-year concession term and to meet the needs of the modern and fast-growing cruise industry. Under the terms of the concession agreement, SJCP will pay the As well as investing in the port's infrastructure, as part of this initial investment, SJCP will invest in modernising the cruise port experience for cruise passengers, cruise lines and local vendors and will use GPH’s global expertise and operating model to improve the management of the cruise port operations. GPH will also invest in systems, equipment, and technology to enhance the cruise port's operational performance and ensure environmental protection, safety, and security. The management approach of GPH will ensure that the port is integrated into Old San Juan and The second investment phase will commence subject to certain pre-agreed criteria, including cruise passenger volumes recovering to pre-pandemic levels. In this phase, SJCP will invest an estimated Network expansion The addition of San Juan Cruise Port is a significant development in GPH's strategic ambitions in the San Juan Cruise Port is a strategically important port in the The addition of San Juan Cruise Port takes the total number of ports in GPH’s network to 29, with annual passenger volumes of close to 20 million expected for the 12 months to "We are delighted to welcome San Juan Cruise Port into the world's largest cruise port network. As well as being a fantastic destination, San Juan is a strategically important port that is perfectly positioned to play a pivotal role in Eastern and Our investment into this port will see hundreds of millions of US dollars invested into San Juan Cruise Port, transforming the port infrastructure and significantly improving the cruise port experience for passengers while creating significant opportunities for local businesses to benefit from the expected growth in cruise passenger volumes. I would like to thank the Government of
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ISIN: | GB00BD2ZT390 |
Category Code: | AGR |
TIDM: | GPH |
LEI Code: | 213800BMNG6351VR5X06 |
Sequence No.: | 303815 |
EQS News ID: | 1837605 |
End of Announcement |
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