Convertibles Calendar

International Convertibles Calendar

MARCH 25

AIR FRANCE-KLM GROUP (Paris: AF; Amsterdam: AFA): €480 million of 10-year convertible Oceane bonds; to yield coupon of minus 0.02% to 0.73%, up 30% to 35%; Regulation S; €70 million extension clause; BNP Paribas is among the bookrunners; settlement seen March 28; subscription priority through March 22; French Republic participation; put on Feb. 15, 2019; proceeds for general corporate purposes, including finance of its fleet and to allow for optimum debt repayment; airline business that includes Paris-based Air France and Amsterdam-based KLM.

ON THE HORIZON

ASIA CEMENT CORP. (Taiwan: 1102): less than $300 million of euro convertible bonds; tentatively set 0% coupon and five-year maturity; proceeds to repay loans, to purchase overseas raw materials and for operating capital; Taipei, Taiwan, cement producer.

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