Swissport targets further acquisitions after refinancing
15 / 08 / 2019
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.