Nordic Aviation Capital renews contract with Estuaire
20th November 2023
Air France-KLM has completed its upsized €1.036bn capital increase after the increase option was exercised in full.
“The success of our capital increase and the renewed support of our main shareholders testify to the confidence of investors in the prospects of the Group, whose financial solidity has been strengthened thanks to these initial recapitalization measures,” said Air France-KLM Group CEO, Benjamin Smith. “All Air France-KLM management and employees are strongly committed to pursuing our transformation plan to work together to improve the competitiveness of the Group and its airlines, and to approach the recovery with determination and ambition when it takes shape.”
Crédit Agricole Corporate and Investment Bank, Deutsche Bank, HSBC and Natixis acted as joint global coordinators, joint lead managers and joint bookrunners. Banco Santander and Société Générale are acting as joint lead managers and joint bookrunners.
The capital increase will result in the issuance of 213,999,999 new shares at a price per share of €4.84, representing approximately 50% of the company’s existing share capital.
The proceeds of the capital increase will be allocated to strengthen the equity of Air France. Air France will use the allocated amount to consolidate its liquidity and finance general corporate purposes in the context of the Covid-19 crisis.