Just-auto reports that Endeavor Advisory Group, which Saab has hired to help raise funds, is expressing optimism about reaching a deal as several parties are interested in helping Saab. According to Endeavor, the group is hopeful a deal with Saab can be "consummated".
Earlier reports claimed that Endeavor is working on raising $350 million (approx SEK 2.3 billion), which is much more than the SEK 1 billion mentioned earlier today in connection with reports that Saab is negotiating with a huge European bank to secure a bridge loan to keep Saab up and running until the investments from Chinese companies Pangda and Youngman are expected to be finalized later this autumn.
Which raise the question if these are two different deals that are in the works. It is certain that Saab needs at least SEK 1 billion to pay wages and settle the accounts with its suppliers so that the production can be restarted. And it has also been mentioned before that Saab wants to get out of the loan agreement with the European Investment Bank (EIB) and thus transfer this loan to private commercial banks. The EIB loan is EUR 205 million (approx SEK 2 billion) according to the semi-annual report, and replacing this loan with loan(s) from private commercial bank(s) could be the job Endeavor has been hired to do.
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