Air France-KLM announces the final results of its tender offer

                                        

Paris, May 22, 2024        

Air France-KLM announces the final results of its tender offer on two series of existing notes

Air France-KLM (the “Company”) (Euronext Paris: FR0000031122) rated BBB- by Fitch and BB+ by S&P announces today the final results of its tender offer launched on 13 May 2024 on the following two series of existing notes in cash:

• €750,000,000 1.875 per cent notes due 16 January 2025 (ISIN: FR0013477254) (of which €750,000,000 is currently outstanding) (the “2025 Notes”); and
• €500,000,000 3.875 per cent notes due 1^st July 2026 (ISIN: FR0014004AF5) (of which €500,000,000 is currently outstanding) (the “2026 Notes” and, together with the 2025 Notes, the “Existing Notes”) (the “Tender Offer”).

Existing Notes for a total principal amount of €452.7 million, representing 36.2% of the outstanding Existing Notes, have been tendered for purchase in the Tender Offer and €452.7 million have been accepted, of which €234.8 million of 2025 Notes and €217.9 million of 2026 Notes. As a result, the principal amount of outstanding Existing Notes after completion of the Tender Offer will be €797.3 million, of which €515.2 million of 2025 Notes and €282.1 million of 2026 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 €650 million with a 5-year maturity and bearing coupon at an annual rate of 4.625% (the “New Notes”) by the Company under its Euro 4,500,000,000 Euro Medium Term Note Programme, the successful placement of which was announced by the Company on 14 May 2024.

This transaction is part of the Company’s ongoing dynamic management of its debt profile making use of its corporate credit ratings released in December 2023.

The Tender Offer, combined with the rated issuance of the New Notes, will extend the Company’s average maturity profile.

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