NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY TO ANY
(THE “COMPANY”)
announces the results of the tender offers in respect of its outstanding
and
and together with the 2023 Euro Notes and the 2024 Euro Notes, the “Existing Notes”)
This Notice must be read in conjunction with the tender offer memorandum dated
On
The Tender Offers expired at 17:00 hours CEST on
Settlement of the New Euro Notes Issuance took place on
Principal Amounts of Existing Notes validly tendered
The Company has received valid Offers to Sell in respect of the Existing Notes as follows:
Aggregate nominal amount of the 2023 Euro Notes validly tendered: €196,976,000.
Aggregate nominal amount of the 2024 Euro Notes validly tendered: €224,535,000.
Aggregate nominal amount of the 2025 Euro Notes validly tendered: €154,471,000.
Final results of the Tender Offers
The Company is pleased to announce that it will accept validly tendered Existing Notes as follows:
Series Acceptance Amount | Reference Benchmark Yield | Purchase Yield | Tender Price | |
2023 Euro Notes | €196,976,000 | -0.0650% | 0.0850% | 100.550% |
2024 Euro Notes | €224,535,000 | 0.2425% | 0.3425% | 100.802% |
2025 Euro Notes | €154,471,000 No pro-ration shall be applied to valid tenders of the 2025 Euro Notes. | 2025 Euro Notes Interpolated Mid-Swap Rate: 1.2140% | 1.2140% | 100.417% |
Remaining amounts outstanding
After the Settlement Date, the Existing Notes will remain outstanding as follows:
Aggregate principal amount of the 2023 Euro Notes outstanding after the Settlement Date: €303,024,000.
Aggregate principal amount of the 2024 Euro Notes outstanding after the Settlement Date: €275,465,000.
As set out in the Tender Offer Memorandum, following the Settlement Date the Company intends to redeem in full the 2023 Euro Notes and 2024 Euro Notes that remain outstanding at the relevant Make-Whole Redemption Amount in accordance with their respective terms and conditions.
Aggregate principal amount of the 2025 Euro Notes outstanding after the Settlement Date: €345,529,000.
Settlement Date
The Settlement Date for the Tender Offers is expected to be
Existing Notes purchased by the Company pursuant to the Tender Offers will be cancelled and will not be reissued or re-sold.
CONTACT INFORMATION
DEALER MANAGERS
51, rue La Boétie 75008 Paris Attention: Tel: +33 1 877 01057 Email: DG.LM-EMEA@bofa.com | Taunustor 1 60310 Frankfurt am Main Attention : Liability Management Telephone: +44 20 7090 6134 Email: liabilitymanagement@uk.mizuho-sc.com |
TENDER AND INFORMATION AGENT
The Shard
Telephone: +44 20 7704 0880
Attention:
Email: philips@is.kroll.com
Website: https://deals.is.kroll.com/philips
DISCLAIMER
The Dealer Managers do not take responsibility for the contents of this Notice. This Notice must be read in conjunction with the Tender Offer Memorandum. No invitation to tender any Existing Notes is being made pursuant to this Notice. Any such invitation was only made in the Tender Offer Memorandum. This Notice and the Tender Offer Memorandum contain important information.
OFFER RESTRICTIONS
The distribution of this Notice or the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this Notice or the Tender Offer Memorandum comes are required by each of the Company, the Dealer Managers and the Tender and Information Agent to inform themselves about, and to observe, any such restrictions. Please also refer to the Tender Offer Memorandum for a full description of such restrictions.
Source: Royal Philips
2022 GlobeNewswire, Inc., source