February 25, 2014 - Assignment

SAS announces SEK 1.6 billion convertible bond issue

SAS has announced on 25 February 2014 an issue of SEK 1.6 billion convertible bonds due in 2019. The convertible bonds issue was authorised by the shareholders at the Annual General Meeting of SAS, held on 18 February 2014. The proceeds from the issue of the convertible bonds together with the proceeds from the preference share offer announced on 7 February 2014 by SAS, will be used to refinance certain of SAS’s outstanding bonds maturing in 2015, strengthen SAS’s financial condition for the continued renewal of the aircraft fleet, but also to strengthen SAS’s financial preparedness and to reduce its dependence on bank financing.

SAS is being advised by Mannheimer Swartling in the matter. Mannheimer Swartling's team is led by Klaes Edhall, mainly assisted by Lukas Dalén, Johan Berg, Therese Lundgren, Daniel Khayyami and Jessica Lindgren. Nils Nostell has handled certain documentation matters. Anders Erasmie has handled certain tax law matters, mainly assisted by Carl Beyer.