Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
13 January 2023
Deals | France | Banking & Finance
Gide assisted Air France-KLM in connection with (i) the establishment of an EMTN programme including the option to issue Sustainability-Linked Notes and (ii) an inaugural issue of Sustainability-Linked Notes in two tranches for an aggregate principal amount of €1 billion.
The Sustainability Performance Target used for these notes is Air France-KLM group's objective to reduce its well-to-wake scope 1 and 3 jet fuel greenhouse gas (GHG) emissions by 10% per revenue tonne kilometer by 2025 compared to 2019. If this target is not achieved, a premium will be paid to the holders of the notes with a maturity of 3.3 years and the coupon of the notes with a maturity of 5.3 years will be increased by an interest step-up.
This issue constitutes Air France-KLM's first bond issue under its EMTN programme and the first public issue of Sustainability-Linked Notes in Europe in the airline sector.
The Gide team was composed of Laurent Vincent, partner, assisted by Aude-Laurène Dourdain, Louis Ravaud and Emilie Radisson, associates.
