Swissport trims notes, fattens up term loan as HY bond market turns murky

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By Karoliina Liimatainen
09 Aug 2019

Swissport, the world’s largest provider of cargo and airport ground services,has increased the loan portion of its debt raise at the expense of bonds amid a volatile August market.

Swissport is borrowing an €850m term loan B, up from the initial plan of €730m. It is simultaneously downsizing its senior secured note issue to €410m from €500m and senior note issue to €250m from €280m.

Swissport is owned by distressed Chinese conglomerate HNA, making it a riskier investment ...

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