SAS Won't Make Payment Due on Swiss Bonds as Part of Chapter 11 Process

By Dominic Chopping

STOCKHOLM--SAS AB said Wednesday it won't make the interest payment due on Swiss bonds due to the voluntary U.S. chapter 11 process it is currently working through.

The Scandinavian airline said it will not make the interest payment due on Jan. 14, 2023 on its 200,000,000 Swiss franc ($216.7 million) perpetual subordinated bonds 1986ff with an outstanding amount of CHF127,195,000.

SAS filed for chapter 11 bankruptcy protection last July as it seeks to push through a comprehensive financial restructuring to cut costs and raise capital under the supervision of the U.S. court system.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

01-11-23 0730ET