Koninklijke Philips (PHG) has released an update.
Royal Philips has announced the successful pricing of a EUR 700 million notes offering at a rate of 3.75%, which was more than twice oversubscribed. The proceeds from the offering will be used to repay existing debts due in 2024 and 2025, ensuring a debt-neutral impact. The notes, due in 2032, will be listed on the Luxembourg Stock Exchange, reflecting Philips’ commitment to maintaining a strong investment grade credit rating.
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