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SAS Secures $505 Million Financing for Restructuring
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SAS, the Scandinavian airline, has secured a $505 million financing agreement with U.S. investment firm Castlelake to aid its restructuring. The loan will replace the company's existing debtor-in-possession financing agreement with funds managed by Apollo Global Management. SAS filed for bankruptcy protection in the United States in mid-2022.
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How will the financing agreement impact SAS's bankruptcy proceedings?
What are the implications of Air France-KLM and Castlelake's increased investment in SAS?
What are the specific terms of the restructuring plan for SAS?
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