Koninklijke Philips set to market seven-year euro green bonds

By Wendy Van Sickle

Columbus, Ohio, May 7 – Koninklijke Philips NV will hold a series of fixed-income investor meetings across Europe starting Monday to present its green and sustainability innovation bond framework, according to a market source.

An inaugural euro benchmark seven-year green innovation senior unsecured Regulation S bearer bond (expected: Baa1//A-) is expected to follow, subject to market conditions.

BNP Paribas, HSBC, ING, MUFG and Rabobank are the bookrunners, with Rabobank as the sustainability structuring adviser.

Proceeds will also be used for eligible green projects.

Koninklijke Philips is an electronics company based in Amsterdam.

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