Air France-KLM: launches convertible bond offering
(CercleFinance.com) - Air France-KLM announces the launch of an offering of undated senior subordinated notes that are convertible into new shares and/or exchangeable for existing shares, for a nominal value of approximately 300 million euros.
The offering will be made by way of a placement to qualified investors only. The net proceeds of the offering are intended to be used in full to redeem the deeply subordinated notes held by the French State, issued in April 2021.
This transaction marks a further step in the airline's initiatives to accelerate the repayment of French State aid, continue to support the strengthening of equity capital, and to contribute to the optimisation of financial costs.
For the record, Air France shares are down over 30% YTD.
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