Notice to holders of deeply subordinated perpetual bonds, convertible into new shares or exchangeable for existing shares of Air France-KLM (ISIN FR001400DU47) (the “HC Bonds”)
Rhea-AI Summary
Air France-KLM (OTC:AFLYY) has exercised its option to redeem all outstanding deeply subordinated perpetual HC Bonds (ISIN FR001400DU47) from the First Hard Call Date.
The Redemption price is par (€100,000) plus accrued interest of €1,625 per bond, payable on 24 November 2025. Holders may instead convert or exchange HC Bonds into shares until (but excluding) the 10th business day preceding the First Hard Call Date, i.e., until (but excluding) 10 November 2025. The Conversion/Exchange Ratio in effect is 6,549.6463 ordinary shares (ISIN FR001400J770) per HC Bond.
Contacts: Michiel Klinkers, Marouane Mami; website www.airfranceklm.com.
Positive
- Redemption price at par (€100,000) plus €1,625 accrued interest
- Payment of redemption scheduled on 24 November 2025
- Conversion ratio set at 6,549.6463 ordinary shares per HC Bond
- Holders retain conversion/exchange right until 10 November 2025
Negative
- None.
THIS PRESS RELEASE MAY NOT BE PUBLISHED, DISTRIBUTED OR TRANSMITTED, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN AND SOUTH AFRICA OR IN ANY OTHER JURISDICTION WHERE THE OFFER OR SALE OF SECURITIES WOULD CONSTITUTE A VIOLATION OF ANY APPLICABLE LAW.
THIS PRESS RELEASE IS FOR INFORMATION PURPOSE ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR INVITATION TO PURCHASE ANY SECURITIES.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OF SECURITIES IN THE UNITED STATES OF AMERICA. THE BONDS (AND THE UNDERLYING SHARES) MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OF AMERICA WITHOUT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE AMENDED U.S. SECURITIES ACT (1933). AIR FRANCE - KLM DOES NOT INTEND TO REGISTER THE OFFERING EITHER IN WHOLE OR PARTIALLY IN THE UNITED STATES OF AMERICA OR TO MAKE ANY PUBLIC OFFERING IN THE UNITED STATES OF AMERICA.
Notice to holders of deeply subordinated perpetual bonds, convertible into new shares or exchangeable for existing shares of Air France-KLM (ISIN FR001400DU47)
(the “HC Bonds”)
Early redemption of the HC Bonds
Paris, October 15, 2025
Holders of the HC Bonds of Air France-KLM (the “Company”) are hereby informed that, in accordance with the provisions of the second paragraph of Article 1.9(a)(iii) “Early redemption at the option of the Company” of the terms and conditions of the HC Bonds (the “Terms and Conditions”), the Company has decided to exercise its option to redeem all of the outstanding HC Bonds from the First Hard Call Date at a price per HC Bond equal to par (
It is hereby reminded that (i) holders of the HC Bonds retain the right to exercise their entitlement to receive new and/or existing Air France-KLM shares, in accordance with Article 2.2 “Exercise period” of the Terms and Conditions, until (but excluding) the 10th business day preceding the First Hard Call Date, i.e. until (but excluding) November 10, 2025, and (ii) the Conversion/Exchange Ratio of the HC Bonds in effect as of the date of this notice is 6,549.6463 ordinary shares of Air France-KLM (ISIN FR001400J770) per each HC Bond.
Investor Relations
Michiel Klinkers Marouane Mami
michiel.klinkers@airfranceklm.com mamami@airfranceklm.com
Website: www.airfranceklm.com
Attachment
FAQ
What redemption did Air France-KLM announce for HC Bonds (ISIN FR001400DU47) on October 15, 2025?
What is the conversion/exchange ratio for Air France-KLM HC Bonds (AFLYY) as of October 15, 2025?
By when can holders of Air France-KLM HC Bonds convert or exchange before the First Hard Call Date?
When will Air France-KLM pay the redemption price for HC Bonds (AFLYY)?
Who can investors contact about the HC Bond early redemption announcement from Air France-KLM?
