(Tiper Stock Exchange) – Air France-KLM has placed its first sustainability-related bondsfor a nominal amount of 1 billion euros. The offer consists of two tranches: 500 million euro with a maturity of 3.3 years and a coupon of 7.250%; 500 million euro with a maturity of 5.3 years and a coupon of 8.125%.
Strong investor demand, with orders for approximately 2.6 billion euros which covered approximately 2.6 times the amount of the bonds, “is a testament to investor confidence in the steps taken by Air France-KLM to restore the company’s creditworthiness after the Covid-19 crisis,” reads the a note.
The proceeds will be used to pursue a further partial refund of the outstanding bank loan guaranteed by French state (issued in May 2020 during the Covid-19 crisis).