Air France cleared for take-off on €500m CB
Air France-KLM launched a €480m-€550m convertible bond on Wednesday in a deal that, although it won’t be priced until Monday, appeared to meet with a strong reception from outright investors and is likely to price on mids or better.
The Oceane comes in the shareholder-friendly priority subscription format instead of with clawback rights. That means that a full book was put together on Wednesday but shareholders can subscribe until Friday, with pricing and terms set on Monday.
BNP Paribas and Société Générale were joint global co-ordinators and
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.