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ABL finances Swissport's transition to eGSE

GSE Sustainability
ABL Aviation has closed €170 million of financing for Swissport to fund investment in electric GSE.

Swissport has pledged to switch half of its GSE fleet to electric-powered models by 2032 and will use the credit facility to fund investments.

The deal is structured as a multi-draw senior secured facility going up to €270 million, which is ABL’s inaugural financing in the sector and the first-ever global credit facility secured for a GSE operator.

ABL was the sole structuring agent and book runner for the deal, achieving oversubscription from American, European and Canadian pension funds, credit funds and banks at five times the amount of the target raise.

KfW IPEX-Bank and NatWest served as financiers for the transaction.

Vedder Price (New York), led by Cameron Gee, represented the borrower and worked closely with the ABL team, led by Finnian O’Neill, to create a suitable solution.

Norton Rose (Munich) represented the lenders.

Ali Ben Lmadani, CEO of ABL Aviation, said: “We are grateful for the confidence Swissport placed in ABL to close this important deal and we look forward to future collaborations. We would also like to recognise KfW IPEX-Bank, NatWest Plc, and the many other partners who contributed to this milestone transaction.”

Jourik Hooghe, Chief Financial Officer of Swissport, added: “This financing allows us to take a crucial step towards our sustainability goals, and we appreciate the trust and collaboration from ABL, KfW IPEX-Bank, and NatWest Plc in making it possible.”


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