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SAS AB (PUBL) issues SEK 1,500 million subordinated perpetual capital securities

October 16, 2019 17:45

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN OR AUSTRALIA OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURES.

SAS AB (publ) (the “Company” or “SAS”) has successfully issued SEK denominated subordinated capital securities with perpetual tenor and which will be treated as equity in SAS’ accounting in the total amount of SEK 1,500 million. The capital securities have a floating interest rate of STIBOR three months plus 825 bps and have a first call date on 23 October 2024.

SAS intends to apply for listing of the capital securities on the corporate bond list of Nasdaq Stockholm.

SAS will use the net proceeds from the issue of capital securities for its general corporate purposes, including refinancing of financial indebtedness and funding of aircraft acquisitions.

Danske Bank, Nordea, SEB and Swedbank acted as Joint Lead Managers and Joint Bookrunners for the transaction.

Important information

The release, publication or distribution of this press release in certain jurisdictions may be restricted or unlawful, and any person in the jurisdictions where this announcement has been published or distributed should inform themselves of, and observe, any such legal restrictions. This announcement does not constitute an offer, or an invitation to buy or subscribe for, any securities in SAS AB (publ) in any jurisdiction.

SAS AB (publ)

For further information, please contact:
Michel Fischier
Vice President Investor Relations
Phone: +46 70 997 0673

This information is information that SAS AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:45 CET on October 16, 2019.

This announcement is not an offer to sell or a solicitation of any offer to buy or subscribe for any securities issued by SAS AB (publ) (the “Company”) in any jurisdiction where such offer or sale would be unlawful.

This document and the information contained herein are not for distribution in or into the United States of America. This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States.

In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, “qualified investors” (as defined in section 86(7) of the Financial Services and Markets Act 2000) and who are (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Persons who are not relevant persons should not take any action on the basis of this document and should not act or rely on it.

This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the capital securities. Any investment decision must be made solely on the basis of publicly available information, which has not been independently verified by Danske Bank A/S Danmark, Sverige Filial, Nordea Bank Abp, Swedbank AB (publ) or Skandinaviska Enskilda Banken AB (publ) (the “Managers”). The Managers are acting for the Company in connection with the transaction and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to its clients nor for giving advice in relation to the transaction or any other matter referred to herein.

The information in this announcement may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. Any forwarding, distribution, reproduction or disclosure of this information in whole or in part is unauthorised. Failure to comply with this directive may result in a violation of the Securities Act or the applicable laws of other jurisdictions. This announcement does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any securities in any jurisdiction.

This announcement does not constitute a recommendation concerning any investor’s option with respect to the offering. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this announcement and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.

Neither the content of the Company’s website nor any website accessible by hyperlinks on the Company’s website is incorporated in, or forms part of, this announcement.

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