reports
Swissport : Additional creditors’ protection makes us more comfortab...
>The funding of the Aerocare acquisition includes junior capital and additional covenants have been added on the term loans - Swissport provided its 2017 preliminary results and details on the financing of the Aerocare acquisition in a lenders’ presentation that was published on Wednesday. The deal, which closed on 7 March 2018, amounts to € 411m, plus € 26m of commissions. It was funded by 1/ a new € 325m term loan B announced at end-January and in the process of being syndicated, 2/ th...
Swissport : Additional creditors’ protection makes us more comfortab...
>The funding of the Aerocare acquisition includes junior capital and additional covenants have been added on the term loans - Swissport provided its 2017 preliminary results and details on the financing of the Aerocare acquisition in a lenders’ presentation that was published on Wednesday. The deal, which closed on 7 March 2018, amounts to € 411m, plus € 26m of commissions. It was funded by 1/ a new € 325m term loan B announced at end-January and in the process of being syndicated, 2/ th...
Swissport : The tribulations of a Chinese group in Switzerland
>Credit opinion: Stable // Market recommendation: Neutral - Operating results should further improve in 2018 (we forecast a 4% increase in revenues and EBITDA), driven by a solid market outlook, the ongoing ramp of operations in Saudi Arabia and restructuring actions. However, these developments should be partially offset by FX headwinds, the integration of Aerocare and potential start-up costs in China. We expect that the net leverage will stay above 5.0x (forecast of 5.2x vs. 5.4x in 2017, pro...
Swissport : The tribulations of a Chinese group in Switzerland
>Credit opinion: Stable // Market recommendation: Neutral - Operating results should further improve in 2018 (we forecast a 4% increase in revenues and EBITDA), driven by a solid market outlook, the ongoing ramp of operations in Saudi Arabia and restructuring actions. However, these developments should be partially offset by FX headwinds, the integration of Aerocare and potential start-up costs in China. We expect that the net leverage will stay above 5.0x (forecast of 5.2x vs. 5.4x in 2017, pro...
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