A further $0.2 billion will be used towards the airline’s debt service which includes the periodic interest payments for SIA’s secured and unsecured loans and repayment of funds previously drawn under certain lines of credit.
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To date, the airline has used about $7.1 billion between June 8 and Dec 13, 2020, including the one-time utilization of $2.0 billion for the repayment of the bridge loan from DBS Bank.
“Such use of proceeds is in accordance with the intended use of proceeds stated in the Offer Information Statement,” says the airline in a Dec 21 statement.
“While international air travel continues to be affected by the pandemic, the Company will continue to be prudent and proactive in managing its liquidity,” it adds.
Shares in SIA closed 5 cents lower or 1.1% down at $4.38 on Dec 21.
