As it comes out the other side of the COVID pandemic Swissport, the Swiss aviation services company providing airport ground, lounge hospitality and cargo handling services has successfully completed a new €600 million Term Loan offering whilst also entering into a new €200 million Super Senior Revolving Credit Facility.
The funds will be used for refinancing existing credit facilities and also provide Swissport with further committed liquidity to bolster its already strong financial position. The company is now well capitalised as it ramps up operations and will be in a strong position to drive global growth.
Radar Topco S.à r.l., Swissport Group's holding company, has announced that Radar Bidco S.à r.l., a wholly owned subsidiary of the company, has completed a new Term Loan offering in an aggregate principal amount of €600 million with maturity of September 2027. In addition, the company will also be entering into a new €200 million Super Senior Revolving Credit Facility / ancillary facility with maturity of March 2027. The proceeds will be used to refinance existing senior and super senior credit facilities, which include a €500 million Term Loan maturing December 2024 and a €30 million revolving credit facility maturing December 2024.
“Together with available cash, the refinancing secures the Group with an extended debt maturity profile and provides additional liquidity as we are ramping up operations across our global network,” said Ivan Nash Vila, Group Chief Financial Officer, Swissport International AG. (£1.00 = €1.15 at time of publication).
