8-Mar-2010 9:56 AM

SAS seeking shareholder approval for debt refinancing

SAS stated (05-Mar-2010) it would seek shareholder approval to refinance SEK2 billion (EUR206 million) of debt through a directed convertible bond issue. SAS, half-owned by the governments of Denmark, Norway and Sweden, stated a refinancing of bonds maturing this year was one of the criteria that key shareholders had stipulated for supporting a planned rights issue. The airline stated conditions in the convertible bond market were favourable and it would seek approval for the debt rollover at its annual general meeting on 07-Apr-2010. SAS added that current Board members, Anitra Steen and Berit Kjøll, have communicated to the Nomination Committee that they are not available for re-election.[more]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More