Philips announced on Friday the success of its latest refinancing operation, for an amount of 700 million euros, which was more than twice oversubscribed.

This bond issue maturing in 2032 carries a coupon of 3.75%, says the Dutch healthcare equipment specialist in a press release.

The operation will enable early repayment of credit maturities looming for 2024 and 2025, which means that its impact on its debt level will be neutral, the group also indicated.

Philips recalls that it retains investment grade issuer status with all three rating agencies, with 'BBB+' at Standard & Poor's, 'Baa1' at Moody's and 'BBB+' at Fitch.

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