Air France-KLM buys back 32.4% of subordinated perpetuals in offer

By Susanna Moon

Chicago, Sept. 12 – Air France-KLM said holders had tendered €194.5 million, or 32.4%, of its €600 million outstanding subordinated perpetual notes in the offer that began Sept. 3.

After the repurchase, the outstanding amount will be €405.5 million, according to a company update on Wednesday.

As reported, the issuer was offering to repurchase any and all of the subordinated perpetuals, which have a first repayment option on Oct. 1, 2020.

The notes have been admitted for trading on Euronext Paris.

“With this transaction, the company will optimize its financing costs and continue to actively manage its balance sheet structure,” according to a previous press release.

No more details were included in the release.

Air France is a Roissy, France-based airline.

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