SAS increases its bond with MSEK 750

SAS AB (publ) has successfully completed a MSEK 750 tap issue, thereby increasing the size of its existing senior unsecured bond which matures on 24 November 2022 to MSEK 2,250. The tap issue was priced at 102.50, translating into an effective interest rate of 4.73% to maturity.

The proceeds from the tap issue will be used to further improve the financial flexibility for aircraft investments, upcoming debt maturities and general corporate purposes. The bond is listed at Nasdaq Stockholm and the increase of the bond will be registered at Nasdaq Stockholm according to normal practice.

“We are pleased with the interest from investors despite the general market turmoil, confirming the investors’ continued confidence in SAS,” says Jan Torberger, SAS Group Treasurer.

Danske Bank, Nordea Bank, SEB and Swedbank acted as Joint Lead Managers and Joint Bookrunners for the transaction.

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SAS, Scandinavia’s leading airline, carries more than 30 million passengers annually to, from and within Scandinavia. The airline connects three main hubs - Copenhagen, Oslo and Stockholm - with 125 destinations in Europe, the US and Asia. Spurred by a Scandinavian heritage and sustainable values, SAS will reduce total carbon emissions by 25 percent and operate with biofuel equivalent to equal the total consumption of fuel used to operate all domestic SAS flights, by 2030. In addition to airline operations, SAS offers ground handling services, technical maintenance and air cargo services. SAS is a founding member of Star Alliance™ and together with partner airlines offers almost 19,000 daily flights to more than 1,300 destinations around the world.

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