Swissport successfully closes debt refinancing, eyes acquisitions

posted on 15th August 2019 by Justin Burns
Swissport successfully closes debt refinancing, eyes acquisitions

Swissport International has closed and settled its debt refinancing and is using the net proceeds to repay its existing debt and is targeting new acquisitions.

The Swiss ground handler’s refinancing includes 5.25 per cent of senior secured notes at 410 million, and nine per cent senior notes at 250 million along with an 850 million term loan B facility at the Euribor interest rate, plus 4.75 per cent.

“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,” said 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.”