SIA raises S$750 million in secured loans

Singapore Airlines (SIA) announced Thursday (23 July) that it has raised an additional S$750 million (US$541.9 million) through long-term loans secured on some of its Airbus A350-900 and Boeing 787-10 aircraft. With the completion of these transactions, SIA has now raised a total of S$1.65 billion from secured financing since the start of financial year 2020/2021. The total liquidity raised during the same period now stands at approximately S$11 billion. This comprises S$8.8 billion from SIA’s successful rights issue, S$1.65 billion from secured financing, and more than S$500 million from new committed lines of credit and a short-term unsecured loan from financial institutions. Separately, all existing committed lines of credit that were due to mature during the course of 2020 have been renewed until 2021 or later. Together with the new committed lines of credit, this ensures continued access to more than S$2.1 billion in committed liquidity. For the period up to July 2021, the company also retains the option to raise up to S$6.2 billion in additional mandatory convertible bonds that would provide further liquidity if necessary. During this period of high uncertainty, SIA will continue to explore additional means to shore up liquidity as necessary, the company said. For Editorial Inquiries Contact: Editor Matt Driskill at [email protected] For Advertising Inquiries Contact: Head of Sales Kay Rolland at [email protected]