Swissport seeks bondholder backing for priming debt deal

swissport 575x375 from company
By Owen Sanderson
28 May 2020

Swissport, the baggage handling and air cargo group, is asking bondholders to allow it to add €380m of super-senior debt above its existing senior secured bonds and loans, secured by the same collateral but with a priority claim.

The group, which is owned by Chinese conglomerate HNA, has the support of 34% of the holders of its senior secured loan, and 56% of its senior secured bondholders, who have formed an ad hoc group advised by PJT Partners and Latham & Watkins.

According to Swissport’s proposals, ...

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