Swissport closes refinancing to further strengthen its financial position and secure future growth
Swissport has successfully completed a new 600 million Euro Term Loan offering and entered into a new 200 million Euro Super Senior Revolving Credit Facility. The proceeds will be used to refinance existing credit facilities and provide the company with additional committed liquidity to reinforce its already strong financial position. Swissport is well capitalized as it ramps up operations and drives global growth.
Radar Topco S.à r.l., Swissport Group’s holding company (or the “Company”), announces 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 EUR 600m with maturity of September 2027. The Company has also entered into a new EUR 200m 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 the EUR 500m Term Loan maturing December 2024 and the EUR 130m revolving credit facility maturing December 2024.
“We are very pleased with the outcome of the refinancing given the challenging capital market environment”, says Ivan Nash Vila, Group Chief Financial Officer of Swissport International AG. “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 and execute our growth plans.”