Swissport targets further acquisitions after refinancing

By Damian Brett

Ground handler Swissport said it will target further acquisitions following the refinancing of debt by the group.

Swissport Group today announced that successfully closed and settled its debt refinancing.

The refinancing includes €410m of senior secured notes, €250m of senior notes and a €850m term loan B facility.

Swissport will use the net proceeds from the refinancing 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”, said Eric Born, president and chief executive of Swissport International.

“At the same time, we continue to focus on improving our customer service delivery and reducing our cost structures across the globe”.

The handler has been busy acquiring businesses over recent years. In February, for example, it became the sole owner of Heathrow Cargo Handling after buying out its partner.

Swissport targets expansion in Germany with Apron acquisition

Swissport to acquire 100% stake in Heathrow Cargo Handling

 

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Damian Brett

Damian Brett
I have been writing about the freight and logistics industry since 2007 when I joined International Freighting Weekly to cover the shipping sector. After a stint in PR, I have gone on to work for Containerisation International and Lloyds List - where I was editor of container shipping - before joining Air Cargo News in 2015. Contact me on [email protected]