Swissport shaves 25bp despite virus fears for air travel

By Owen Sanderson
21 Feb 2020

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.

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