CMA CGM €320.7 Million Offering of Bonds Exchangeable into Existing Shares of Air France-KLM

"Cleary Gottlieb represented CMA CGM in a €320.7 million offering of 0.5% exchangeable bonds due 16 December 2028, exchangeable into existing Air France‑KLM shares held by CMA CGM. The transaction closed on 16 December 2025 and the bonds will trade on the Freiverkehr segment of the Frankfurt Stock Exchange. Net proceeds will be used for general corporate purposes."

Cleary Gottlieb represented CMA CGM in connection with its €320.7 million offering of bonds exchangeable into existing shares of Air France‑KLM held by CMA CGM. The transaction, which closed on 16 December 2025, comprised an offering of €320.7 million aggregate principal amount of 0.5% exchangeable bonds due 16 December 2028. The bonds will be admitted to trading on the open market (Freiverkehr) of the Frankfurt Stock Exchange. The net proceeds of the offering will be used by CMA CGM for general corporate purposes. CMA CGM is the third-largest global container shipping company and, more broadly, a leading global player in sea, land, air and logistics solutions. Cleary Gottlieb represented client CMA CGM with a team composed by: partners Marie-Laurence Tibi and Valérie Lemaitre; counsel Laura Birène; and associate Megi Jashari. Partner Chrishan Raja advised on U.S. law matters. Partner Anne-Sophie Coustel and associate Agathe Hanrot advised on French tax law.

CMA CGM €320.7 Million Offering of Bonds Exchangeable into Existing Shares of Air France-KLM

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