Philips launches sustainability and eco-innovation note offering and a series of liability management transactions

(image: Public Domain)

(picture: Public Area)

Press release


Amsterdam, Netherlands, April 28 (Korea Bizwire) – royal philips (NYSE: PHG, AEX: PHIA), a worldwide chief in healthcare know-how, right now introduced its intention to situation a number of collection of notes (the “Notes”) underneath its European Medium Time period Notes (EMTN) program (the “ EMTN providing”), in addition to a collection of legal responsibility administration operations, that are anticipated to increase the corporate’s debt maturity profile.

With these transactions, Philips intends to leverage present monetary market situations to additional optimize its debt and legal responsibility maturity profile. As soon as accomplished, these transactions are anticipated to have a impartial impression on the worth of excellent debt.

Internet proceeds from the Notes will likely be used for Eligible Tasks in accordance with the Philips Inexperienced and Sustainability Innovation Bond Framework. Pending the total allocation of the web proceeds of the Notes, Philips intends to optimize its short-term treasury liquidity profile by making use of these internet proceeds to the next legal responsibility administration transactions, all topic to the profitable completion of the EMTN Providing:

  • A public tender supply for sure collection of its excellent US dollar-denominated securities maturing in 2025 and 2026;
  • A young supply for sure collection of its excellent euro-denominated notes due in 2023, 2024 and 2025 (the “Euro Tender Provide”);
  • The proposed full redemption of any of the Euro-denominated notes due in 2023 and 2024 that aren’t bought within the Euro Tender Provide (the “Euro Make-Entire Redemption”); and
  • The proposed settlement with related counterparties for early settlement of excellent ahead contracts entered into within the third quarter of 2021 underneath the share buyback program for capital discount functions introduced on July 26, 2021 (the “Advance Settlement”). The acquisition of 19,571,218 shares by the settlement of those ahead contracts would outcome within the early completion of the buyback program. Philips would then anticipate to cancel a complete of roughly 28.3 million shares (together with shares acquired by open market purchases in December 2021 and January 2022 underneath the aforementioned share buyback program) over the course of 2022, representing 3.3% of the at present excellent shares of Philips.

Any choice by Philips to redeem excellent securities in Euro Make-Entire Redemptions, or full Early Settlement, will rely on quite a lot of components at the moment.

For extra info, please contact:

Ben Zwirs
Philips International Press Workplace
Telephone: +31 6 1521 3446
E mail: [email protected]

Derya Guzel
Philips Investor Relations
Telephone: +31 20 5977055
E mail: [email protected]

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a number one healthcare know-how firm centered on bettering individuals’s well being and well-being and enabling higher outcomes throughout the complete well being continuum – from wholesome residing and prevention to analysis, therapy and residential care. Philips makes use of superior know-how and deep medical and shopper insights to ship built-in options. Based mostly within the Netherlands, the corporate is a frontrunner in diagnostic imaging, image-guided remedy, affected person monitoring and well being informatics in addition to shopper well being and residential care. Philips generated gross sales of €17.2 billion in 2021 and employs roughly 78,000 workers with gross sales and repair in over 100 international locations. Information about Philips may be discovered at

forward-looking statements
This launch accommodates sure forward-looking statements concerning Philips’ monetary situation, outcomes of operations and enterprise and sure of Philips’ plans and goals with respect to those objects. Examples of forward-looking statements embrace statements made concerning the EMTN Provide, the USD Provide to Buy, the Euro Provide to Buy, the Euro Make-Entire Redemption and the Early Settlement. By their nature, these statements contain danger and uncertainty as a result of they relate to future occasions and circumstances and there are a lot of components that might trigger precise outcomes and developments to vary materially from these expressed or implied by these statements.

Vital info
This announcement is for informational functions solely and doesn’t represent or type a part of any supply or invitation to promote, or any solicitation of a proposal to purchase, any Philips securities. The securities provided within the EMTN Providing haven’t been and won’t be registered underneath the Securities Act of 1933, as amended (the “Securities Act”), and might not be provided or bought in the USA with out registration or an relevant exemption from registration necessities. Neither the EMTN Provide nor the Euro Tender Provide is being made and won’t be made straight or not directly on, or by means of, postal mail from, or by any means or instrument (together with, with out limitation, fax, telex, phone, e mail, mail and different types of digital transmission) of interstate or overseas commerce from, or any facility of, a nationwide securities trade, or to holders of the securities in query positioned or resident in the USA or to individuals of the USA, as outlined within the Rules S of the Securities Act.

In the UK, this commercial is being distributed and addressed solely to (a) individuals who’ve skilled expertise in investment-related issues that fall inside the definition of “funding professionals” in Article 19(5) of the Companies and Markets Act 2000 (Monetary Promotion) Order of 2005, as amended (the “Order”); or (b) excessive internet value firms and different individuals to whom it could be lawfully communicated pursuant to Article 49(2)(a) to (d) of the Order (all such individuals collectively are known as “related individuals”) . The Notes can be found solely to, and any invitation, supply or settlement to subscribe for, buy or purchase such Notes will likely be out there solely to or will likely be engaged solely by related individuals. Anybody aside from a related particular person should not act on or depend on this commercial or any of its contents.

The producer’s goal market (MIFID II product governance and UK MiFIR) is just eligible counterparties {and professional} clients (all distribution channels). No Key Data Doc (KID) of UK PRIIPs or PRIIPs has been ready as it isn’t out there for retail within the EEA or UK.

Supply: Philips Worldwide BV by way of GLOBE NEWSWIRE

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