Scandinavian Airlines gets all-clear for US$700 debtor-in-possession financing
Scandinavian Airlines (SAS), the flag-carrying airline of Norway, Denmark and Sweden, has successfully obtained U.S. court approval of its proposed US$700 million (£603 million) debtor-in-possession (DIP) financing credit agreement. DIP financing is a specific form of financing used when a business has filed for Chapter 11 bankruptcy protection in a U.S. court and is also …
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