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When it comes to Saab, it seems that for every dollop of good news that trickles out from Sweden there are multiple bad news.
On Tuesday, the cash-strapped Swedish automaker said that its white-collar workers will not receive their next payment (at least not on time) because the company has not yet been paid by its investors.
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Another day, another new story for Svenska Aeroplan Aktiebolaget –or, as you might know it, Saab. The Swedish company announced on Wednesday that it has entered a €25 million convertible bridge loan from Gemini Investment Fund Limited.
The loan’s annual interest is 10% and the conversion price is €1.38 per share, while Saab can at any time repay the loan, presumably when the expected Pang Da and Youngman Lotus funding is received, without a penalty.
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