Maturity of the new credit facility is 31 March 2015
All parliamentary approvals and all conditions for a new SEK 3.5 billion (€400 million) credit facility are now in place, SAS has announced. The new revolving credit facility had been subject to parliamentary approval in all three Scandinavian countries, but these approvals have now been obtained. All other conditions, such as having all eight union agreements signed, are also in place.
The previous €366 million credit facility is now replaced by this new facility. SAS’s bilateral facilities amounting to SEK 1.25 billion have been terminated as these provided limited benefit at a significant financial cost, the airline explains. The maturity of the new facility is 31 March 2015.
[photo courtesy SAS]