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Air France-KLM redeems 500 million on loan, extends maturity to 2025
By Mary-Katherine Stinson
Lexington, Ky., Dec. 13 Air France-KLM has reached an agreement with the syndicate of nine banks of the PGE and the French State to redeem 500 million of its outstanding 4 billion loan and has negotiated a revision of its redemption profile which extends the maturity to May 6, 2025 from May 6, 2023, according to a press release.
The new amortization schedule calls for the following, at Air Frances discretion: a partial redemption of 800 million in May 2023 leaving 2.7 billion outstanding, a partial redemption of 1.35 billion in May 2024 leaving 1.35 billion outstanding and a final redemption of 1.35 billion in May 2025.
The company states that discussion of further capital strengthening measures are underway which could include the issuance of equity and quasi-equity instruments, subject to market conditions.
The airline is based in Roissy, France.
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