Swissport bonds land as investors demand big yield

Swissport
By Karoliina Liimatainen
12 Aug 2019

Swissport, the world’s largest provider of cargo and airport ground services, increased the loan portion of its debt raise at the expense of bonds as investors demanded steep yields in a volatile market.

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

The secured notes were priced at 5.25% and the unsecured ones ...

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