Distressed SAS seeks Skr6bn in rights issue

February 04, 2009 12:00 am

More distressed businesses are tapping Europe’s equity market as Nordic airline SAS seeks SKr6bn ($727.6m) in a rights issue after making a SKr6.32bn net loss in 2008. Underwriters JPMorgan and SEB are taking on 42.4% of the risk, with the remainder guaranteed by Sweden, Denmark, Norway and the Wallenberg Foundation. Have underwriters found renewed confidence in risk taking? Read EuroWeek on Friday.

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