Singapore Airlines (SIA) has used the last $0.6 billion of the gross proceeds of $8.8 billion raised from the rights issue in 2020.
The sum is said to be used for aircraft and aircraft-related payments between July 1 and Sept 1.
The net proceeds of $6.2 billion from the issuance of additional mandatory convertible bonds (MCBs) in June 2021, have not been used yet.
Between June 8, 2020, and Sept 1, 2021, the airline spent $2.0 billion of the $8.8 billion to repay the bridge loan from DBS Bank.
During the same period, $2.2 billion was used for operating expenses, while $1.4 billion was used for ticket refunds.
Another $1.8 billion was used for debt service, which included $1.1 billion for the repayment of lines of credit.
Some $0.5 billion was used to redeem SIA’s 10-year fixed rate notes, while $1.4 billion went to aircraft and aircraft-related payments.
Shares in SIA closed 6 cents higher or 1.24% up at $4.92 on Sept 16.
Photo: Bloomberg
