Final results of Air France-KLM’s tender offer on three series of existing notes
14 Gennaio 2020 - 02:56PM
Final results of Air France-KLM’s tender offer on three series of
existing notes
Press release
Final results of Air France-KLM’s tender
offer on three series of existing notes
Roissy (France), 14
January 2020 – Air France-KLM (the
“Company”) (Euronext Paris: FR0000031122)
announces today the final results of its tender offer launched on 6
January 2020 on the following three series of existing notes in
cash:
-
€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 “2021
Notes”),- €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
“2022 Notes”),
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
“Undated Notes”, and together with the 2021 Notes
and the 2022 Notes, the “Existing
Notes”) (the “Tender Offer”).
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 “New Notes”) 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.
Investor
Relations Olivier Gall+33 1 49 89 52
59olgall@airfranceklm.com |
Wouter van
Beek+33 1 49 89 52 60Wouter-van.Beek@airfranceklm.com |
Press +33 1 41 56 56 00 |
Disclaimer
This press release does not constitute an offer
to subscribe the New Notes nor an invitation to participate in the
Tender Offer in or from any country or jurisdiction to whom or in
which such offer would be unlawful under the applicable laws and
regulations.
This press release is not a prospectus for the
purposes of the Regulation (EU) 2017/1129 (the “Prospectus
Regulation”).
The New Notes are not being subject to a public
offering in any country or jurisdiction, including in France, to
any person other than qualified investors.
The distribution of this press release may be
restricted by law in certain jurisdictions. Persons into whose
possession this press release comes should inform themselves about
and observe any applicable legal and regulatory restrictions.
Prohibition of sales to EEA retail
investors
The New Notes are not intended to be offered,
sold or otherwise made available to and should not be offered,
sold, or otherwise made available to any retail investors in the
European Economic Area (the “EEA”). For these
purposes, a retail investor means a person who is one (or more)
of:
- a retail client as defined in point (11) of Article 4(1) of
Directive 2014/65/EU as amended (“MiFID II”);
and/or
- a customer within the meaning of Directive 2016/97/EU as
amended, where that customer would not qualify as a professional
client as defined in point (10) of Article 4(1) of MiFID II.
France
This press release is only directed at qualified
investors as defined in Article 2 point (e) of the Prospectus
Regulation and in accordance with Article L. 411-2, 1° of the
French Code monétaire et financier.
United Kingdom
This press release is only directed at qualified
investors who are (i) persons having professional experience in
matters relating to investments who fall within the definition of
“investment professionals” in Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
“Order”); or (ii) high net worth entities falling
within Article 49(2)(a) to (d) of the Order, or (iii) other persons
to whom it may otherwise be lawfully communicated.
United States
This press release does not constitute or form a
part of any offer or solicitation to purchase or subscribe for
notes nor of any offer or solicitation to sell notes in the United
States. The notes have not been and will not be registered under
the Securities Act of 1933, as amended (the “Securities
Act”) or with any securities regulatory authority of any
state or other jurisdiction in the United States, and may not be
offered, sold, pledged or otherwise transferred within the United
States or to, or for the account or benefit of, U.S. persons (as
defined in Regulation S of the Securities Act (each a “U.S.
Person”)), directly or indirectly. The notes are being
offered and sold only outside the United States to non-U.S. Persons
in compliance with Regulation S under the Securities Act.
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