Vedder Price is pleased to announce it represented Swissport International AG, which was advised by ABL Aviation, as lead structuring agent and bookrunner in a EUR170 million global ground support equipment (GSE) financing transaction.  The financiers to the facility were KfW IPEX-Bank and NatWest Plc.

This transaction helps Swissport in its efforts to transition over half of its worldwide fleet from diesel- and gasoline- to zero emission, electric ground support equipment (eGSE) by 2032.

“We were happy to collaborate with Swissport, ABL Aviation and the lenders on this transaction that illustrates their commitment to sustainability,” said Global Transportation Finance Shareholder Cameron Gee. “This deal ensures a promising future and path ahead for their strategic efforts.”

Structured as a multi-draw senior secured facility with an accordion to upsize to EUR270MM, the deal serves as ABL’s inaugural role as an arranger financing in the sector and the first-ever global credit facility secured by ground support equipment for a GSE operator.  The ABL Aviation team was led by Finnian O’Neill, ABL’s Chief Investment Officer.

In addition to Mr. Gee, the Vedder Price team included Associate John Geager.