Air France-KLM Issues €500 Million Senior Notes Under EMTN Program

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Summary · why it matters

Air France-KLM has successfully priced €500 million of senior unsecured notes under its Euro Medium Term Note program. The notes carry a 5-year maturity and a fixed annual coupon of 4.250%, with a yield of 4.318%. Net proceeds will primarily be used for general corporate purposes, supporting the group's balance sheet optimization by simplifying its capital structure, reducing funding costs, and increasing the proportion of senior debt. The transaction reflects investor confidence in Air France-KLM's credit quality, with the group's long-term debt rated BB+ by Standard & Poor's and BBB- by Fitch Ratings. BNP Paribas, Citi, and Crédit Agricole CIB acted as global coordinators, while Deutsche Bank, Goldman Sachs, ICBC, Santander, and SMBC served as joint active bookrunners.

Impact on assets 9

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Air France-KLM SA
AF
▲ PositiveCapitalrelevance

Issuance of €500M senior notes at favorable terms (4.25% coupon) to optimize balance sheet and reduce funding costs, reflecting investor confidence.

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Fitch RatingsPrivate± Mixed
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