Brief: Scandic Hotels Group Announces Offer For Convertibles

Scandic Hotels AB

26/03/2021 07:07

March 26 (Reuters) - Scandic Hotels Group AB  SHOTE.ST :
    * SCANDIC HOTELS GROUP AB ANNOUNCES OFFER FOR CONVERTIBLES
WITH
EXPECTED GROSS PAYMENT OF SEK 1.6 BILLION AND CONDITIONAL
EXTENSION OF EXISTING CREDIT FACILITIES OF SEK 6.65 BILLION
UNTIL 2023
    * DURING Q1 CASH OUTFLOW ESTIMATED TO AMOUNT TO ABOUT SEK
1,100
MILLION AND CO'S AVAILABLE LIQUIDITY IS ESTIMATED TO AMOUNT TO
ABOUT SEK 800 MILLION AS OF MARCH 31
    * EXPECTED SETTLEMENT DATE FOR THE OFFER IS APRIL 8, 2021
    * OFFER AND EXTENSION OF CREDIT FACILITIES EXPECTED TO COVER
CO'S
LIQUIDITY NEEDS, UNTIL MARKET CONDITIONS HAVE NORMALIZED AND CO
HAS A POSITIVE CASH FLOW, WHICH IS EXPECTED TO TAKE PLACE IN
AUTUMN 2021

Source text for Eikon:  ID:nWkr1d5wnY 
Further company coverage:  SHOTE.ST 

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