KLM finalizes new €575m revolving credit facility

KLM signed a €575m revolving credit facility with 10 international banks, finalizing the early refinancing of its credit facility which was due to mature in July 2016. The facility has a tenor of 5 years and shows improved terms compared to KLM’s existing facility. The transaction was launched at €575m and KLM took advantage of the oversubscription to increase the facility to €575m. The syndicate includes 10 leading banks. After the early renewal of the Air France credit facility that was achieved at the end of April, Air France – KLM now has at its disposal undrawn credit facilities amounting in total to €1.845bn.