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

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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