Philips executes offering
By HME News Staff
Updated 9:30 AM CDT, Mon May 19, 2025
AMSTERDAM – Royal Philips has announced the successful pricing of its offering of EUR 500 million fixed rate notes due 2030 and EUR 500 million fixed rate notes due 2035 under its European Medium Term Note program. The net proceeds will be used for general corporate purposes, the repayment of 2026 debt maturities and to refinance or finance any eligible projects as defined in Philips’ Sustainable Finance Framework. The issue price for the notes due 2030 is 99.859% with a coupon of 3.25%, resulting in a yield of 3.281% and the issue price for the notes due 2035 is 99.595% with a coupon of 4%, resulting in a yield of 4.05%. The 5- and 10-year tranches were oversubscribed by more than three and four times, respectively. Settlement and issue of the notes is scheduled for May 23, 2025.
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