Gategroup serves up debt restructuring as Covid-19 continues to batter air travel
Gategroup, the Swiss airline hospitality company, has negotiated with lenders to extend the maturity on its syndicated loan facilities as part of a major debt restructuring for the Covid-battered firm.
The company has extended its syndicated loan facilities to October 2026. The borrower has a €250m term loan outstanding.
That loan was amended in 2017 to reduce the size from €350m and extend the maturity by a year to 2021.ING was bookrunner on the amendment, according to Dealogic. ...