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KLM (NR, BB+, BBB-) put misleading adverts on environment (Dutch court)

CONSUMER CYCLICALS
  • Amsterdam District Court has ruled KLM (Nr, BB+, BBB-) {AF FP Equity} engaged in misleading advertisements around environment and sustainable aviation in a greenwashing accusation/action initiated by the Fossielvrij Foundation. No mention of any fines in the ruling & seems specific to advertising statements (not on emission reporting which is what the 75bp/37.5bp coupon step-ups are tied to on the 26/28's).
  • The 7.25% 26 and 8.125% 28's are the sustainability linked lines - +1bp today, other lines unch.

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