ZURICH (Reuters) - HNA Group’s Swissport has completed a debt refinancing package that will let the airport ground services business repay existing debt, the Swiss unit said on Friday.
The round includes 5.25% senior secured notes in an aggregate principle amount of 410 million euros (374.83 million pounds) and 9.00% senior notes worth 250 million euros. The group also closed an 850 million euro term loan B facility at EURIBOR plus 4.75%, it said.
“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”, Eric Born, president and CEO of Swissport International AG, said in a statement.
Reporting by Michael Shields; Editing by Michelle Martin