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Air France-KLM: 'OCEANE' bond issue

(CercleFinance.com) - Air France-KLM has announced the launch of a private placement of OCEANEs (conversion and/or exchange of bonds for new or existing shares) maturing in 2026 with institutional investors, for a maximum nominal amount of 500 million euros, with up to 30 million underlying shares.


The net proceeds from the issue will be spent on the airline's general financing needs, including the refinancing of perpetual subordinated bonds issued in 2015, with early redemption in October 2020.

The nominal par value of the bonds will show a premium of between 57.5% and 65% relative to the share's reference price. The definitive terms are to be set today, with settlement-delivery on 25 March.



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