Air France-KLM issues convertible bond

Air France-KLM raises 300 million euros via a convertible bond – France and the Netherlands were reluctant to place the bond.

The proceeds are to flow entirely into the repayment of French corona loans: Air France-KLM is raising 300 million euros via a convertible bond, which the group can later replace with new shares. The promissory note initially bears 6,5 percent interest and was "several times" oversubscribed, as reported by the online portal Aero, citing a broadcast from the airline. The major shareholder CMA CGM went along with the placement of 27 million euros - the shipping company is thus preventing an imminent dilution of its 9 percent stake. State shareholders France (28,6 percent) and the Netherlands (9,3 percent) did not subscribe to the bond, according to statements.