Swissport preps refi as HNA exit talks return
Swissport is looking to reprice its existing €850m term loan and add on another €50m, in a test of market appetite to tighten terms for companies with owners outside the top tier group of sponsors. The refi comes as reports suggest HNA Holdings, the Chinese conglomerate, is once again looking to sell the company after talks last year collapsed.
Barclays is sole bookrunner on the B2/B- rated deal, and talk for the repricing is 425bp-450bp at 100 original issue discount (OID), from 475bp and 99 when the loan was signed in August last year.Those levels are well wide of the margins available to the best ...
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