SAS noteholders approve amendments to allow dividend payment

By Marisa Wong

Madison, Wis., Feb. 7 - Holders of SAS AB's senior notes, issue 2013/2017, approved proposed amendments to the notes, according to a notice.

SAS sought to amend the terms and conditions of the notes to make an exemption for payment of dividends on preference shares from the general restriction on payments of dividends.

On Jan. 16, CorpNordic Sweden AB, acting as agent for the noteholders, initiated a written procedure in which the noteholders could approve or reject the issuer's proposal.

The written procedure closed on Feb. 6. Noteholders representing 51% of the total outstanding nominal amount participated in the procedure, and 95% of the nominal amount for which holders voted in the procedure approved the changes.

The amendments took effect on Thursday.

SAS is an airline based in Stockholm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.