SAS AB Announces Deferral of Interest Payments Amidst Restructuring Efforts

Tuesday, April 9, 2024

SAS AB (publ), commonly referred to as SAS, has announced the postponement of interest payments scheduled for April 23 and April 26, 2024. This decision comes as a strategic move within the framework of SAS’s ongoing voluntary chapter 11 process in the United States, alongside the company reorganization proceedings in Sweden. Such deferrals align with the terms set forth for the capital securities involved.

The company is set to defer a significant semi-annual interest payment of approximately SEK 84.2 million, which was initially due on April 23, 2024. This payment pertains to SAS’s SEK 1,615 million worth of perpetual capital securities, identified by the ISIN SE0014957999. Additionally, a further semi-annual interest payment of about SEK 319.6 million, initially slated for April 26, 2024, will also be postponed. This latter payment is related to the company’s combined SEK 6,000 million in subordinated perpetual capital securities, which are identified by the ISINs SE0014958005 and SE0014958013.

These measures are integral to SAS’s broader financial strategy, aimed at navigating through its current restructuring phases both in the U.S. and Sweden. The postponement of these payments is expected to provide SAS with enhanced financial flexibility during this critical period of reorganization.

By deferring these payments, SAS underscores its commitment to adhering to the specified conditions of its capital securities while strategically managing its financial obligations amidst the restructuring processes. This approach is indicative of SAS’s meticulous planning and execution of its financial recovery and restructuring plans.

« Back to Page