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Koninklijke KPN sees tenders for $456.92 million securities due 2073
By Marisa Wong
Los Angeles, Sept. 21 – Koninklijke KPN NV announced the results of its Sept. 13 offer to purchase for cash any and all of its $600 million outstanding capital securities due 2073 callable on March 28, 2023 (Cusip: 50048VAA8, N4297BBC7).
As of 5 p.m. ET on Sept. 20, the expiration of the offer, holders had tendered $456.92 million of the securities. This amount includes $2.5 million of securities tendered under guaranteed delivery procedures. All of these securities have been accepted for purchase, according to a Wednesday press release.
KPN will pay $1,013 per $1,000 principal amount plus accrued interest to but excluding the settlement date, which is expected to occur on Sept. 22.
Settlement of tenders under guaranteed delivery procedures is expected to be on Sept. 23.
The offer is subject to a financing condition.
The dealer managers are Banco Santander, SA (Tommaso.GrosPietro@santandercib.co.uk or alex.pilkington@gruposantander.com), Barclays Bank Ireland plc (800 438-3242, 212 528-7581 or +44 20 3134 8515), Cooperatieve Rabobank UA (+31 30 216 9022), Credit Suisse Bank (Europe), SA (+44 20 7883 8763 or 800 820-1653) and UniCredit Bank AG (+49 171 306 6648 or corporate.lm@unicredit.de).
Kroll Issuer Services Ltd. (+44 20 7704 0880 or kpn@is.kroll.com; https://deals.is.kroll.com/kpn) is the tender agent.
KPN is a telecommunications company based in Rotterdam, the Netherlands.
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