BRIEF

on AIR FRANCE-KLM (EPA:AF)

Air France-KLM Successfully Issues €650 Million in Bonds

Stock price chart of AIR FRANCE-KLM (EPA:AF) showing fluctuations.

Air France-KLM has successfully issued new bonds totaling €650 million under its Euro Medium Term Note Programme. These bonds have a 5-year term and a coupon rate of 4.625%. Anticipated ratings for the new issuance are BBB- by Fitch and BB+ by Standard & Poor’s.

The placement attracted an orderbook of over €2.8 billion, significantly oversubscribing by approximately 4.3 times. This high demand underlines strong investor confidence in the airline’s financial health and future prospects.

In addition, the company has launched a tender offer aimed at repurchasing two series of existing notes set to mature in 2025 and 2026, respectively valued at €750 million and €500 million. The raised funds from the new bonds will primarily serve to refinance these older debts and support other corporate financial needs.

The new bonds are also slated for admission to trading on the Euronext Paris, providing further opportunity for investment and trade.

R. E.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all AIR FRANCE-KLM news