May 5, 2020 / 6:20 AM / 22 days ago

Airline SAS signs state-backed credit facility

STOCKHOLM, May 5 (Reuters) - Airline SAS has signed a 3.3 billion crown ($336 million) three-year revolving credit facility agreement, 90% guaranteed by the Swedish and Danish states, it said in a statement on Tuesday.

“The guaranteed debt package, which has been approved by the European Commission, was implemented in the context of the COVID-19 crisis and is intended to support the airline’s liquidity and prepare for the recovery of its activities,” SAS said in a statement.

The credit facility was coordinated by SEB. Danske Bank, Nordea, SEB and Swedbank were the mandated lead arrangers. ($1 = 9.8322 Swedish crowns) (Reporting by Johannes Hellstrom; editing by Niklas Pollard)

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