Paris, April 18, 2023
Air France-KLM, air france and KLM Royal Dutch Airlines signEd two
Revolving Credit Facilityno Link to ESG KPIs total amount €2.2 a billion
Signs of strong confidence from international financial institutions to support Air France-KLM and its airline financial ESG trajectory
ESG-linked RCF to align group financial tools on decarbonization trajectory
KLM has canceled both the remaining direct financing and the existing credit facility guaranteed by the Dutch government.
In line with the intentions expressed in the Group’s 2022 Full Year Results Announcement on 17 February 2023, Air France-KLM, Air France and KLM have signed two ESG KPI-linked Revolving Credit Facilities (“RCF”). €2.2 billion in total.
For each property, a set of ESG-linked key performance indicators are incorporated into the cost of financing. These indicators are in line with Air France-KLM and its two airlines’ commitment to sustainable development and the gradual decarbonization of its activities. The two RCFs include financing cost margin adjustment mechanisms (upward or downward) contingent on independent achievement of these dedicated metrics (reduction in unit CO2 emissions, increase in share of sustainable aviation fuel, etc.). It is
This series of agreements is the second successful sustainability-linked transaction conducted by Air France-KLM jointly with Air France and KLM, following the first Sustainability-Linked Bond issued in January 2023.
Air France – KLM and Air France
Air France-KLM and Air France have signed a €1.2 billion sustainability-related RCF as co-borrowers. This new facility has an initial maturity of 2026 and includes two of his one-year extension options, one year from the date of signing and at the lender’s discretion he offers an accordion increase option of €100 million. To do.
The RCF was signed by a syndication of 15 international banks, with Crédit Agricole Corporate and Investment Bank (CACIB) and Natixis acting jointly as Global Coordinator, ESG Coordinator and Documentation Agent. rice field.
KLM Royal Dutch Airlines
KLM has signed a €1 billion RCF that includes ESG key performance indicators.
The new RCF will initially mature in 2027 and will include two one-year extension options and will offer a €200 million accordion increase option at the lender’s discretion.
The RCF was coordinated by ABN AMRO, ING and Rabobank, with Crédit Agricole Corporate and Investment Bank (CACIB) acting as coordinator for the ESG targets. It was signed in a syndicate of 14 international banks.
This facility replaces both the remaining direct loan granted to KLM by the Dutch government and the credit facility guaranteed by the Dutch government. Both of these have been canceled by KLM.
As a result of this cancellation, the terms and conditions attached to this assistance no longer apply.
PR for investors
Michael Clinkers Maru Anemami