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Swissport obtains US$100 million partial repayment from HNA
来源： 编辑：编辑部 发布：2018/05/15 14:55:05
SWISSPORT has received a further US$100 million repayment on the ground handler's affiliate loan to its parent company, China's HNA Group.
The repayment is in partial satisfaction of HNA Group's obligations under an outstanding affiliate loan of EUR360 million (US$450.5 million) owed to Swissport which was due for repayment in full on May 7, reported London's Air Cargo News.
In January, Swissport received a EUR52 million partial repayment on the affiliate loan from HNA Group.
Swissport has agreed to wait for five months before "exercising remedies to collect the remaining balance under the affiliate loan".
"With this repayment, the outstanding balance of the affiliate loan will be reduced to EUR286 million," Swissport said.
Swissport in April deferred its plans for an initial public offering (IPO) on SIX Swiss Exchange, and has received a forbearance fee of EUR150,000, included in the $100 million payment.
Swissport said it will use the funds from the repayment to prepay a portion of its own, existing term-loans, reducing its net debt.
The repayment is in partial satisfaction of HNA Group's obligations under an outstanding affiliate loan of EUR360 million (US$450.5 million) owed to Swissport which was due for repayment in full on May 7, reported London's Air Cargo News.
In January, Swissport received a EUR52 million partial repayment on the affiliate loan from HNA Group.
Swissport has agreed to wait for five months before "exercising remedies to collect the remaining balance under the affiliate loan".
"With this repayment, the outstanding balance of the affiliate loan will be reduced to EUR286 million," Swissport said.
Swissport in April deferred its plans for an initial public offering (IPO) on SIX Swiss Exchange, and has received a forbearance fee of EUR150,000, included in the $100 million payment.
Swissport said it will use the funds from the repayment to prepay a portion of its own, existing term-loans, reducing its net debt.