White & Case advises bank syndicate on CMA CGM’s issuance of exchangeable bonds into existing shares of Air France-KLM

Global law firm White & Case LLP has advised a banking syndicate on the issuance by CMA CGM S.A. (CMA CGM) of senior unsecured bonds due 2028 exchangeable into existing Air France-KLM S.A. (Air France-KLM) ordinary shares for an amount of €320.7 million.

The offering initially covers the full stake owned by CMA CGM in Air France-KLM, representing approximately 23.1 million shares or 8.8% of the airline's share capital. The net proceeds of the Offering will be used for general corporate purposes.

CMA CGM is a global player in sea, land and air transport and logistics solutions.

The White & Case team in Paris which advised on the transaction was led by partners Tatiana Uskova and Séverin Robillard and included partner Max Turner and associates Eva Brunelli Brondex and Alice Guillon.

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