By Paul A. Harris
Portland, Ore., June 4 - Air France KLM priced a €600 million non-rated issue of 3 7/8% seven-year notes at 99.25 to yield 4% on Wednesday, according to a market source.
The yield printed at the tight end of revised yield talk in the 4 1/8% area. Earlier talk was at 4 1/8% to 4¼%.
HSBC and Natixis were global coordinators and active bookrunner. ING and SG CIB were also physical bookrunners.
HSBC will bill and deliver.
The Paris-based French-Dutch airline holding company plans to use the proceeds to repay debt and for general corporate purposes.
| Issuer: | Air France KLM
|
| Amount: | €600 million
|
| Maturity: | June 18, 2021
|
| Securities: | Senior notes
|
| Global coordinators: | HSBC (bill and deliver), Natixis
|
| Active bookrunners: | HSBC, Natixis, ING, SG CIB
|
| Coupon: | 3 7/8%
|
| Price: | 99.25
|
| Yield: | 4%
|
| Spread: | 314 bps
|
| Trade date: | June 4
|
| Settlement date: | June 18
|
| Rating: | Non-rated
|
| Distribution: | Regulation S
|
| Price talk: | 4 1/8% area, revised from 4 1/8% to 4¼%
|
| Marketing: | Quick-to-market (pre-marketed)
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
