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


            september 21, 2019

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

Busworld 2019

CIBE 2019

LKW Walter

  .. sitemap ..


  .. publications ..


  .. news ..


  .. advertisement ..





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

Indiaexportnews.com

Swissport successfully closes debt refinancing

  15.08.2019    

Swissport Group S.à r.l. (together with its subsidiaries, "Swissport") successfully closed and settled its debt refinancing. 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. Swissport is using the net proceeds from the refinancing to repay existing debt.
Swissport Group S.à r.l. (together with its subsidiaries, "Swissport"), an indirect parent company of Swissport International AG, Swissport Financing S.à r.l. and Swissport Investments S.A., successfully closed and settled its debt refinancing. The closing and settlement includes 5.25% senior secured notes in an aggregate principle amount of EUR 410 million and 9.00% senior notes in an aggregate principle amount of EUR 250 million. The Group also closed a EUR 850 million term loan B facility at EURIBOR plus 4.75%.
“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 AG. “At the same time, we continue to focus on improving our customer service delivery and reducing our cost structures across the globe”.
The 5.25% senior secured notes will mature on 15 August 2024 and have been issued at 100% of par value, providing a yield to maturity to investors of 5.25%. The 9.00% senior notes will mature on 15 February 2025 and have been issued at 100% of par value, providing a yield to maturity to investors of 9.00%. Interest will be paid semi-annually on the fifteenth day of February and August beginning 15 February 2020.
Swissport 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.



.. search ..