All parliament approvals and all conditions for the new 3.5 SEK billion credit facility are in place
On 19 November SAS announced that the Board had decided that the
conditions for the implementation of 4Excellence NG exist as the
condition to have all eight union agreements signed had been reached.
The new revolving credit facility of SEK 3.5 billion was therefore only
subject to parliamentary approval where required. These approvals have
now been obtained in all three Scandinavian countries. All other
conditions are also in place.
The previous MEUR 366 credit facility has been replaced by this new
facility and SAS's bilateral facilities amounting to SEK 1.25 billion
has been terminated as these provided limited benefit at a significant
financial cost. The maturity of the new facility is March 31, 2015.
SAS Group Investor Relations
SAS is publishing this information in accordance with the Swedish
Securities Market Act and/or the Swedish Financial Instruments Trading
Act and corresponding Danish and Norwegian legislation. This information
was submitted for publication on December 19, 2012 at 16.00am CET