Amsterdam, the Netherlands – Koninklijke Philips N.V. (“Royal Philips”) (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the successful pricing of its issue of EUR 500 million fixed rate notes due 2025 and EUR 500 million fixed rate notes due 2030 (together the “Notes”).
The net proceeds of the offering are intended for general company purposes and sustainable innovation expenditures as defined in the ESG framework available on the debt section of Philips Investor Relations website, and will further enhance the company’s liquidity position in view of the possible continued impact of the COVID-19 pandemic on financial markets in 2020.
The issue price for the notes due 2025 is 99.550% with a Coupon of 1.375%, resulting in a yield of 1.469%. The issue price for the notes due 2030 is 99.204% with a Coupon of 2.000%, resulting in a yield of 2.089%.
Settlement and issue of the Notes is scheduled for March 30, 2020. Application has been made for the Notes to be listed on the Official List of the Luxembourg Stock Exchange and to trading on the regulated market of the Luxembourg Stock Exchange.
Philips is committed to maintaining a strong investment grade credit rating. Currently, the company has a BBB+ rating (with stable outlook) by Standard & Poor's, a Baa1 rating (with stable outlook) by Moody's and an A- rating (with stable outlook) by Fitch.
THIS PRESS RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE ‘SECURITIES ACT‘), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. THERE IS NO INTENTION TO REGISTER ANY SECURITIES REFERRED TO HEREIN IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES.
PROHIBITION OF SALES TO EEA AND UK RETAIL INVESTORS – The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available toetc. etc..
Philips EUR 34,18 +7ct vol. 187.000