Saab's parent company, Spyker, has secured a short-term convertible loan of € 30 million through the Gemini Investment Fund. The term is 6 months, the conversion price per share 4,88 €. The interest rate is 7%.
Following the receipt of the 30 million from Gemini, Saab will make use of an additional amount of the EIB loan of 29,1 million. As a result of the convertible bond and EIB loan, Saab will have secured liquidity of 59,1 million over the next week. These funds will ensure the start of production next week.
Spyker and Saab Automobile continue to work to secure long-term liquidity. Saab CEO Victor Muller apologized to the suppliers, employees and partners for the problems of recent weeks. Saab will do everything in his power to restore confidence.
Good news as Sweden - finally. If Saab finds a long-term partner now, the future is assured.
Text: admin / saabblog.net