Air France-KLM repaid remaining €48 million of OCEANE 2026 bonds

Rhea-AI Summary

Air France-KLM has repaid the remaining €48 million of OCEANE 2026 bonds, reducing potential dilutive shares to zero. The company used the Clean Up Call Option to fully repay the outstanding convertible bonds. This move demonstrates financial stability and reduces future shareholder dilution.

Positive

• Air France-KLM demonstrates financial stability by repaying €48 million of OCEANE 2026 bonds in cash.

• The company's use of the Clean Up Call Option shows proactive management of its financial obligations.

• Reducing potential dilutive shares to zero benefits existing shareholders by preventing future dilution.

Negative

• None.

Paris, May 13, 2024

Air France-KLM repaid remaining €48 million of OCEANE 2026 bonds

Air France-KLM announces today that it has fully repaid in cash c. €48 million of nominal value of the remaining outstanding convertible bonds due March 25, 2026 (the “OCEANE 2026”, ISIN FR0013410628), using the company’s option for early redemption (“Clean Up Call Option”, part of the terms and conditions of the bonds).

This residual redemption amount is equivalent to 2,654,942 of bonds and the number of potential dilutive shares linked to these outstanding bonds OCEANE 2026 will therefore been reduced from 472,580 shares to zero.

Investor Relations                                                        

Michiel Klinkers                        Marouane Mami                                                            

michiel.klinkers@airfranceklm.com        marouane.mami@airfranceklm.com

Website: www.airfranceklm.com

Attachment

• PR - Air France-KLM repaid remaining €48 million of OCEANE 2026 bonds

FAQ

What did Air France-KLM announce in the press release?

Air France-KLM announced the full repayment of the remaining €48 million of OCEANE 2026 bonds in cash.

How did Air France-KLM reduce potential dilutive shares?

Air France-KLM reduced potential dilutive shares from 472,580 to zero by repaying the outstanding convertible bonds.

What option did the company use for early redemption?

Air France-KLM used the Clean Up Call Option as part of the terms and conditions of the bonds for early redemption.