Debt

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Debt type

At December 31, 2015, 35% of the current and non-current financial debt is made of bonds:

  • Perpetual subordinated bond in Japanese yen and Swiss francs, for €584 million
  • 2020 convertible bond (OCEANE) with an investor put in April 2016, for €419 million, of which €415 million recorded under financial debt
  • 2023 convertible bond (OCEANE) with an investor put in February 2019, for €550 million, of which €489 million recorded under financial debt
  • 2016 bond for €603 million
  • 2018 bond for €500 million
  • 2021 bond for €600 million

The majority of the remaining 62% is made of debt secured by assets, mainly aeronautical.

An hybrid bond was issued in April 2015 (see below).

Latest credit presentation (September 2015)

Credit update (PDF)

Bond prospectus and key information

Bond prospectus
October 2016 400 million euro bond due October 2022
April 2015 Additional issue of perpetual subordinated bonds for 200 million euros, callable in October 2020 at the option of the issuer (ISIN: FR0012650281) (PDF)
March 2015  Perpetual subordinated bond of 400 million euros callable in October 2020 at the option of the issuer (ISIN: FR0012650281) (PDF)
June 2014  600 million euro bond due June 2021 (PDF)
December 2012   500 million euro bond due January 2018 (PDF, 1.53 MB)

 

The group has one convertible bond issued in 2013. 

OCEANE 2.03% 2013-2023
Type of bond Bonds convertible and/or exchangeable into new or existing Air France-KLM shares (OCEANEs)
Issue date March 28, 2013
Maturity date February 15, 2023 with an investor put in February 15, 2019
Amount €550 million, 53.398.058 bonds of €10.30 nominal unit value
Coupon 2.03%, paid annually in arrears on February 15
Allocation ratio 1 share per bond
Listing Euronext Paris (ISIN code: FR0011453463)
Bonds already converted As of December 31, 2014: 11.134
Outstanding bonds As of December 31, 2014: 53.386.924

BALO Notice – early redemption of the 2023 convertible bonds as of 15 November 2017

 

For further information