Brief: SAS Receives Court Approval To Enter Into Investment Agreement In Its Exit Financing Solicitation Process

Sas AB

21/11/2023 21:26

Nov 21 (Reuters) - SAS AB  SAS.ST :
    * SAS RECEIVES COURT APPROVAL TO ENTER INTO INVESTMENT
AGREEMENT
IN ITS EXIT FINANCING SOLICITATION PROCESS
    * SAS ALSO RECEIVED FINAL COURT APPROVAL FOR ITS NEW DIP
FINANCING
CREDIT AGREEMENT WITH CASTLELAKE FOR USD 500 MILLION (SEK 5.5
BILLION)
    * SAS - NEW DIP FINANCING CREDIT AGREEMENT IS BEING USED TO
REFINANCE COS' ORIGINAL DIP TERM LOAN WITH A SIGNIFICANT
EXTENSION OF DIP LOAN FINANCING PERIOD
    * SAS CURRENTLY AIMS TO RECEIVE APPROVAL FROM COURT OF
CHAPTER 11
PLAN IN EARLY 2024
    * NO APPROVAL IS EXPECTED TO BE REQUIRED FROM EXISTING
SHAREHOLDERS OF SAS AB FOR TRANSACTION.

Source text for Eikon:  ID:nWkr9DV69Y 
Further company coverage:  SAS.ST 

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