Swissport 'migrates' capital structure after cov default

By Max Bower
11 Jul 2017

Swissport Group announced on Tuesday a technical capital restructuring following its breach on certain debt covenants. The restructuring includes a new €460m term loan ‘B’ and the repayment of its existing €660m term loan ‘B’.

The aviation services company announced in May that it had entered a technical breach on some of its debt covenants after its Chinese private equity owner HNA Group pledged shares in some of its subsidiaries as collateral elsewhere.

The restructuring on Tuesday migrates Swissport Group’s existing capital ...

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