The airline SAS, which has an ongoing recapitalization plan, announces that at the end of the so-called "early bird" deadline on Wednesday, the company's agent had received ballots and proxies from creditors that together represent 73.1 percent of the nominal amount of the bonds and 78.5 percent of the nominal amount of the existing hybrid bonds.
”"These creditors have authorized the agent to vote in favor of the conversions for 72.47 percent of the bonds (corresponding to 99.21 percent of ballots and proxies received) and against the conversions for 0.57 percent of the bonds (corresponding to 0.79 percent of ballots and proxies received)," SAS writes in a press release.
With respect to the existing hybrid bonds, the agent has been authorized to vote in favor of the conversions for 77.00 percent of the existing hybrid bonds (corresponding to 98.09 percent of ballots and proxies received) and against the conversions for 1.50 percent of the existing hybrid bonds (corresponding to 1.91 percent of ballots and proxies received).
SAS will announce the outcome of the votes cast by the bond and hybrid holders immediately after the creditors' meetings on September 2. The outcome may differ from the ballots and proxies that the agent has received before the early bird deadline, the airline points out.
