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SAS prices SEK1.6 billion convertible bond issue

22-Mar-2010 1:06 PM

SAS priced (19-Mar-2010) a five-year, SEK1.6 billion (EUR165 million) offering of convertible bonds, upsizing the initial size of the offering from SEK1.42 billion (EUR146 million) and meeting a hurdle set by key shareholders for their support in an upcoming share issue. The senior unsecured bonds will have an annual coupon of 7.5% payable quarterly in arrear and will be convertible at a conversion price of SEK3.5913 equal to a conversion premium of 30% of the volume weighted average price of the company's shares on NASDAQ OMX Stockholm between launch and pricing on 19-Mar-2010. The Bonds are expected to be settled on or around 01-Apr-2010, with proceeds to be used to repay other borrowing. [more - Updated Offer] [more - Previous Offer]