Royal Philips Prices Offering of Notes for EUR1.0 Billion
August 31 2017 - 12:17PM
Dow Jones News
Netherlands' Royal Philips NV (PHIA.AE) said Thursday it has
priced 1.0 billion euro ($1.19 billion)notes.
The health-technology group has priced the issue of EUR500
million euros floating rate notes due 2019 and EUR500 million fixed
rate notes due 2023.
Philips said the net proceeds of the offering will be used for
the repayment of the EUR1.0 billion bridge loan which was entered
into for the purpose of financing the acquisition of The
Spectranetics Corporation and for general purposes.
The issue price for the floating rate notes is 100.300% with a
coupon of 3M Euribor + 20 basis points, and the issue price for the
fixed rate notes is 99.465% with a coupon of 0.500%, resulting in a
yield of 0.591%.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
August 31, 2017 13:02 ET (17:02 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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