New Issue: Air France-KLM prices €200 million add-on to perpetuals at 5½% yield

By Paul A. Harris

Portland, Ore., April 10 – Air France-KLM Group priced a €200 million add-on to its perpetual subordinated bonds to yield 5½%, according to a company press release.

The deal was managed by a syndicate of banks including BNP Paribas, Deutsche Bank AG, Morgan Stanley & Co. International plc, Crédit Agricole CIB, Banco Santander, SA, HSBC Bank plc and SG CIB.

Air France-KLM is an airline business that includes Paris-based Air France and Amsterdam-based KLM.

Issuer:	Air France-KLM Group
Amount:	€200 million
Maturity:	Perpetual
Securities:	Perpetual subordinated bonds
Managers:	BNP Paribas, Deutsche Bank AG, Morgan Stanley & Co. International plc, Crédit Agricole CIB, Banco Santander, SA, HSBC Bank plc, SG CIB
Coupon:	6¼% until October 2020
Add-on yield:	5½%
All-in issue yield:	6.08%

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