GROUND handling and cargo handling firm Swissport Group says it has successfully closed and settled its debt refinancing
GROUND handling and cargo handling firm Swissport Group says it has successfully closed and settled its debt refinancing. The refinancing includes EUR410 million (US$454.79 million) of senior secured notes, EUR250 million of senior notes and a EUR850 million term loan B facility at EURIBOR plus 4.75 per cent. The net proceeds from the refinancing will be used to repay existing debt.
'The successful refinancing significantly increases our cash position and enables us to further enhance our leading global market position through organic growth opportunities and selective bolt-on acquisitions,' Swissport International AG CEO Eric Born said in a company statement.
'At the same time, we continue to focus on improving our customer service delivery and reducing our cost structures across the globe.'
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