January 31, 2018 / 7:01 PM / a year ago

HNA unit Swissport gets financing for Aerocare deal

ZURICH, Jan 31 (Reuters) - Ground services and cargo handling group Swissport, a unit of cash-strapped Chinese conglomerate HNA Group, has secured a 325 million euro ($403 million) financing commitment from Barclays to support its acquisition of Australian ground handler Aerocare, it said on Wednesday.

The deal is now set to complete on March 7, it said.

Swissport also said it was proceeding with plans for an initial public offering in the second quarter of 2018 and was finalising the appointment of global coordinators.

Cash-strapped HNA has faced a cash crunch since the end of last year and people close to the matter had told Reuters that it was considering floating Swissport as it seeks to fix its finances. ($1 = 0.8055 euros) (Reporting by Michael Shields; Editing by Susan Fenton)

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