World News: 13:56 GMT Tuesday 14th January 2020. [AIR FRANCE - KLM via Globe Newswire via SPi World News]
- €600,000,000 3.875 per cent. Notes due 18 June 2021 (ISIN: FR0011965177) (of which €600,000,000 is outstanding before the tender offer) (the “”),- €400,000,000 3.750 per cent. Notes due 12 October 2022 (ISIN: FR0013212958) (of which €400,000,000 is outstanding before the tender offer) (the “”), and- €600,000,000 6.250 per cent. Undated Deeply Subordinated Fixed Rate Resettable Notes Callable in October 2020 (ISIN: FR0012650281) (of which €403,300,000 is outstanding before the tender offer) (the “”, and together with the 2021 Notes and the 2022 Notes, the “ ”) (the “”).
Existing Notes for a total principal amount of €677.7 million, representing 48.3% of the outstanding Existing Notes, have been tendered to the Tender Offer and €350.0 million have been accepted, of which €311.2 million of 2021 Notes and €38.8 million of 2022 Notes ; no Undated Notes will be repurchased by the Company. As a result, the principal amount of outstanding Existing Notes after completion of the Tender Offer is €1,053.3 million, of which €288.8 million of 2021 Notes, €361.2 million of 2022 Notes and €403.3 million of Undated Notes.
The Tender Offer will be funded in whole by the net proceeds of the issue of new notes of a total principal amount of €750 million with a 5-year maturity and bearing coupon at an annual rate of 1.875% (the “”) the successful placement of which was announced by the Company on 10 January 2020.
This transaction is part of the Company’s ongoing dynamic management of its maturity profile, while contributing to reduce the overall cost of its debt.
Globe Newswire: 13:56 GMT Tuesday 14th January 2020
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