Swissport successfully settles its debt refinancing

swissport

The Swissport Group has successfully closed and settled its debt refinancing, using the net proceeds from the refinancing to repay existing debt.

The refinancing includes EUR 410 million of senior secured notes, EUR 250 million of senior notes and a EUR 850 million term loan B facility.

The Swissport Group is an indirect parent company of Swissport International AG, Swissport Financing and Swissport Investments.

“The successful refinancing significantly increases our cash position and enables us to further enhance our leading global market position through organic growth opportunities and selective bolt-on acquisitions”, says Eric Born, president and CEO of Swissport International.

“At the same time, we continue to focus on improving our customer service delivery and reducing our cost structures across the globe,” he adds.

Swissport says it is using the net proceeds from the offering of the notes and the term loan B facility to repay outstanding borrowings, consisting of: existing outstanding term loan B facilities; an existing outstanding revolving credit facility; and to fully redeem the aggregate principal amount of its existing outstanding senior secured and senior notes and to pay transaction fees and expenses in connection with this refinancing.

Swissport Group is a Chinese-owned aviation services company providing airport ground and cargo handling services, owed by Chinese company HNA Group and is headquartered in Opfikon, Switzerland.

Summary
Swissport successfully settles its debt refinancing
Article Name
Swissport successfully settles its debt refinancing
Description
The Swissport Group has successfully closed and settled its debt refinancing, using the net proceeds from the refinancing to repay existing debt.
Author
AsiaCargoBuzz.com
AsiaCargoBuzz.com
http://asiacargobuzz.com/wp-content/uploads/2017/04/NEW-LOGO1.png
ECS Group

Be the first to comment

Leave a Reply