Air France secures €1.06bn credit facility
Air France has secured a €1.06bn, five-year revolving credit facility with 14 international banks.
It will be used to refinance the airline’s existing credit facility, agreed in April 2005, which was due to mature in April 2012. The carrier said the five-year facility would enable it “to benefit from a flexible financing tool in order to optimise its cash management”. The Bank of Tokyo-Mitsubishi, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Crédit Mutuel-CIC, HSBC France, Natixis, The Royal Bank of Scotland and Société Générale Corporate & Investment Banking were appointed as mandated lead arrangers and bookrunners. Natixis will also act as facility agent.
