SAS plans to issue SEK 2 billion five-year convertible bonds

By Susanna Moon

Chicago, Feb. 7 - SAS AB said it plans to issue SEK 2 billion of five-year unsecured convertible bonds.

The convertible bond issue may not exceed 130 million common shares upon conversion, according to a company press release.

The issue would be used to refinance the company's SEK 1.6 billion of convertible bonds due in 2015, as previously noted.

Pricing will be set through a bookbuilding process, and the issue is subject to favorable market conditions, the company said.

The company said on Jan. 16 that it may issue preference shares or convertible bonds to strengthen the company's capital base.

The company will hold a shareholder meeting on Feb. 18 to propose the issue.

The airline holding company is based in Stockholm.

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