SAS — Capital/Financing Update 2018

Jun 4, 2018

SAS increases its bond with MSEK 750

SAS increases its bond with MSEK 750

SAS AB (publ) has successfully completed a MSEK 750 tap issue, thereby

increasing the size of its existing senior unsecured bond which matures on 24

November 2022 to MSEK 2,250. The tap issue was priced at 102.50, translating

into an effective interest rate of 4.73% to maturity.

The proceeds from the tap issue will be used to further improve the financial

flexibility for aircraft investments, upcoming debt maturities and general

corporate purposes. The bond is listed at Nasdaq Stockholm and the increase of

the bond will be registered at Nasdaq Stockholm according to normal practice.

"We are pleased with the interest from investors despite the general market

turmoil, confirming the investors' continued confidence in SAS," says Jan

Torberger, SAS Group Treasurer.

Danske Bank, Nordea Bank, SEB and Swedbank acted as Joint Lead Managers and

Joint Bookrunners for the transaction.