Philips successfully prices offering of Notes for EUR 1 billion
25 Março 2020 - 02:15PM
Philips successfully prices offering of Notes for EUR 1 billion
March 25, 2020
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.
For further information, please
contact:
Ben ZwirsPhilips Global Press OfficeTel.: +31 6 1521 3446E-mail:
ben.zwirs@philips.com
Derya GuzelPhilips Investor RelationsTel.: +31 20 5977055E-mail:
derya.guzel@philips.com
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 to any retail investor in the European
Economic Area (the “EEA”) or in the United Kingdom (the “UK”). For
these purposes, a retail investor means a person who is one (or
more) of: (i) a retail client as defined in point (11) of Article
4(1) of Directive 2014/65/EU (as amended, “MiFID II”); or (ii) a
customer within the meaning of Directive (EU) 2016/97, where that
customer would not qualify as a professional client as defined in
point (10) of Article 4(1) of MiFID II. Consequently no key
information document required by Regulation (EU) No 1286/2014 (as
amended, the “PRIIPs Regulation”) for offering or selling the Notes
or otherwise making them available to retail investors in the EEA
or in the UK has been prepared and therefore offering or selling
the Notes or otherwise making them available to any retail investor
in the EEA or in the UK may be unlawful under the PRIIPs
Regulation.
This press release is directed only (i) at persons who are
outside the UK, (ii) to investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the
“Order”), (iii) at persons falling within Article
49(2)(a) to (d) (‘high net worth companies, unincorporated
associations, etc.’) of the Order or (iv) to persons to whom an
invitation or inducement to engage in investment activity within
the meaning of section 21 of the Financial Services and Markets Act
2000 in connection with the issue or sale of any securities may
otherwise lawfully be communicated or caused to be communicated
(all such persons together being referred to as “relevant
persons”). This press release must not be acted or relied on by
persons who are not relevant persons. Any investment activity to
which this press release relates is reserved for relevant persons
only and may only be engaged in by relevant persons.
Relevant stabilisation regulations including FCA/ICMA apply.
MiFID II professionals/ECPs-only/No PRIIPs KID
Manufacturer target market (MIFID II product governance) is
eligible counterparties and professional clients only (all
distribution channels). No PRIIPs key information document (KID)
has been prepared as not available to retail in EEA.
About Royal PhilipsRoyal Philips (NYSE: PHG,
AEX: PHIA) is a leading health technology company focused on
improving people's health and enabling better outcomes across the
health continuum from healthy living and prevention, to diagnosis,
treatment and home care. Philips leverages advanced technology and
deep clinical and consumer insights to deliver integrated
solutions. Headquartered in the Netherlands, the company is a
leader in diagnostic imaging, image-guided therapy, patient
monitoring and health informatics, as well as in consumer health
and home care. Philips' health technology portfolio generated 2019
sales of EUR 19.5 billion and employs approximately 80,000
employees with sales and services in more than 100 countries. News
about Philips can be found at www.philips.com/newscenter.
Forward-looking statements This release
contains certain forward-looking statements with respect to the
financial condition, results of operations and business of Philips
and certain of the plans and objectives of Philips with respect to
these items. Examples of forward-looking statements include
statements made about the strategy, estimates of sales growth,
future EBITA, future developments in Philips’ organic business and
the completion of acquisitions and divestments. By their nature,
these statements involve risk and uncertainty because they relate
to future events and circumstances and there are many factors that
could cause actual results and developments to differ materially
from those expressed or implied by these statements.
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