2012-12-21 — /travelprnews.com/ — On 19 November SAS announced that the Board had decided that the conditions for the implementation of 4Excellence NG exist as the condition to have all eight union agreements signed had been reached. The new revolving credit facility of SEK 3.5 billion was therefore only subject to parliamentary approval where required. These approvals have now been obtained in all three Scandinavian countries. All other conditions are also in place.
The previous MEUR 366 credit facility has been replaced by this new facility and SAS’s bilateral facilities amounting to SEK 1.25 billion has been terminated as these provided limited benefit at a significant financial cost. The maturity of the new facility is March 31, 2015.
SAS Group Investor Relations
SAS is publishing this information in accordance with the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act and corresponding Danish and Norwegian legislation. This information was submitted for publication on December 19, 2012 at 16.00am CET.