Worldwide Flight Services reprices and extends debt issued before crisis
An amend and extend of outstanding debt by Worldwide Flight Services, the aviation company owned by private equity firm LBO France, received unanimous consent from the company’s existing group of investors on Tuesday. The deal, which will close in the next few weeks, will extend the maturity and substantially increase the margins on two of the debt’s tranches.
The maturity on the €30m term loan ‘B’ has been extended by a year to October 2015. The €42.5m revolving credit facility, meanwhile, will mature in September 2015, two years beyond the original due date.
Margins on both portions will go up to 500bp over Euribor. The original
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