Natixis re-opens the convertible bond market in France with a landmark transaction

Natixis led as Joint Global Coordinator and Joint Bookrunner the €500m convertible bond issue due 2026 by Air France-KLM.

Air France-KLM showed its ability to seize favorable market window in attractive conditions: the deal was multiple times covered ensuring a repricing with a very  high conversion premium (70%).

Through this transaction, we confirmed our track-record on the equity-linked segment and highlighted our capacity to support our clients in the long term.