Scandi airline SAS cleared for Eu610m extension
SAS, the Scandinavian airline based in Sweden, has amended and extended about Skr6.5bn (Eu610m) of loans. All the extensions are dependent on SAS, rated single-B by Standard & Poor’s, completing a Skr6bn rights issue announced on Tuesday.
Its Eu366m revolver, which was signed in 2006 and matured in June 2010, has been extended by two years.
The arrangers of the original deal were Danske Bank, Nordea, Royal Bank of Scotland and SEB.
The other lenders were DnB NOR Bank, JPMorgan, Svenska Handelsbanken and Swedbank.
A $156m credit facility
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