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France : AIR FRANCE-KLM issues a seven-year bond for 600 MILLION

June 21, 2014



Air France-KLM announced the issuance of a seven-year bond for 600 million ($813 million) as it continues to actively manage its debt.

HSBC has rolled out the tender for outstanding bonds which is maturing in October 2016.

Bonds for a nominal amount of 94 million, representing 13.4% of the outstanding bonds, were presented and accepted for repurchase. The principal amount of this bond will thus be reduced to 606 million, the company stated.

The company also said that, It plans to realize approximately 200 million of early repayments of bank debt. These transactions enable the group to lengthen its debt maturity profile while benefiting from favorable market conditions.

Chairman and CEO Alexandre de Juniac said, Air France-KLM, which is undergoing a massive restructuring program, said there will be a successor to its current cost-cutting-program, Transform 2015, but it will be a totally different program. Transform was basically focused on restructuring; the new plan will target three key elements development and growth as well as competitiveness.


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Source: TendersInfo (India)


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