Koninklijke Philips to redeem remaining notes not accepted in tender

By Devika Patel

Knoxville, Tenn., May 6 – Koninklijke Philips NV issued a make-whole redemption call for its €500 million of 0.75% notes due 2024 (ISIN: XS1815116568) and its €500 million 0.5% notes due Sept. 6, 2023 (ISIN: XS1671760384), according to an announcement.

The company is redeeming all notes not accepted in its current tender offer for the notes.

The 2024 notes will be redeemed on June 6 at Treasuries plus 10 basis points, determined on May 30, and the 2023 notes are set for redemption on June 7 at Treasuries plus 15 bps, determined on May 31.

The company is a health technology firm based in Amsterdam.

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