Swissport Group S.à r.l. (together with its subsidiaries, "Swissport"), an indirect parent company of Swissport International AG, Swissport Financing S.à r.l. and Swissport Investments S.A., successfully closed its debt refinancing. The closing includes 5.25% senior secured notes in an aggregate principal amount of EUR 410 million and 9.00% senior notes in an aggregate principal amount of EUR 250 million. Swissport also closed a EUR 850 million term loan B facility at EURIBOR plus 4.75%. Swissport is using the net proceeds from the refinancing to repay existing debt. In 2018, Swissport provided best-in-class airport ground services for some 282 million airline passengers and handled roughly 4.8 million tons of air freight in 115 cargo warehouses worldwide. Swissport is the world's leader in airport ground services and air cargo handling, with 66,000 employees, and achieved consolidated operating revenue of 2.99 billion euros in 2018. At the end of June 2019, Swissport was active at 310 airports in 49 countries on six continents. Fasken advised Swissport in connection with the debt refinancing.
The Fasken team was led by John Elias and included Félix Gutierrez, Alexandre Gagnon and Gabrielle Motuz (Banking & Finance), Gabriel Castiglio (Corporate Finance), Stuart Brotman (Insolvency & Restructuring), Lu Chen, Stacey Hogan, Lyne Desparois, Gina Batrouni and Brandon Yin.
