Swissport shaves 25bp despite virus fears for air travel
Swissport, the airport services company owned by HNA Group of China, successfully shaved 25bp off the cost of its term loan B in its recent repricing, in spite of a backdrop of increased fears about the coronavirus and its impact on the aviation industry. However, the deal was less of a slam dunk than other recent refinancings.
Swissport launched two weeks ago the repricing of its loans raised last year. It offered a margin range of 425bp-450bp at par for the loan, originally issued at 475bp. The repricing, and €50m add-on to the original €850m facility, was allocated on Thursday at 450bp and par.Market ...
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