.. subcription
    .. rss channels
    .. press releases
    .. contacts


            october 22, 2019

.. in english  .. по-русски  .. latviski    

Busworld 2019

CCVS

LKW Walter

  .. sitemap ..


  .. publications ..


  .. news ..


  .. advertisement ..





VIA LATVIA
LKW Walter
LKW Walter Rus
 
  .. partners ..

Indiaexportnews.com

Swissport set to refinance US$1.8b debt as preliminary results are announced

  31.07.2019    

Swissport International, the airport-cargo handler owned by Chinese troubled conglomerate HNA Group Co, said it plans to refinance some of its outstanding debt amid stable earnings growth.
The company said in a statement that its EUR1.6 billion (US$1.8 billion) debt refinancing will comprise a new EUR75 million revolving credit facility; a new EUR50 million delayed draw loan facility; an aggregate principal amount of EUR1.23 billion across a new term loan B facility and an offering of euro-denominated senior secured notes; and an offering of EUR280 million of new euro-denominated senior notes.
Swissport plans to use about EUR712 million of proceeds to fully repay existing term loan facilities, it said. It will deploy about EUR628 million to fully redeem outstanding existing notes of Swissport Financing issued in 2017.
The preliminary results show Swissport's revenue for the second quarter ending June 30, 2019 increased to EUR776.5 million compared to EUR 753.7 million for the second quarter 2018.
This means revenue for the first half of the year increased to EUR1.53 billion compared to EUR1.44 billion for the same period last year. This represents an increase of 6.1 per cent year on year.
The company's operating EBITDA (IFRS 16 adjusted) increased to EUR121.9 million for the first half of the year compared to EUR113.7 million in 2018, representing an increase of 7.3 per cent year on year. Without IFRS, 16 adjustments operating EBITDA amounted to EUR191.4 million for the first half of 2019, according to media reports.



.. search ..