| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers K > Headlines for KPN NV > News item |
KPN begins tender offer for up to 2 billion of several note series
By Susanna Moon
Chicago, Oct. 30 Koninklijke KPN NV said it began a tender offer for up to 2 billion of several series of notes.
The purchase price will be 1,024 for each 1,000 principal amount of 2015 notes.
Pricing for the other series of notes will be set using a fixed spread over the purchase spread determined under a modified Dutch auction and the reference rate, according to a company press release.
The company also will pay accrued interest up to but excluding the settlement date of Nov. 7.
Noteholders must tender their notes by delivering an electronic offer instruction by 11 a.m. ET on Nov. 4.
The minimum denominations will be 1,000 for the 2015 notes; 50,000 for the January 2016 notes, the 2017 Notes, the February 2019 notes, the 2020 notes and the 2024 notes; £50,000 for the March 2016 notes and the May 2019 notes; and 100,000 for the February 2021 notes, the October 2021 notes and the 2022 notes.
Holders may tender the 2015 notes, the January 2016 notes, the 2017 notes, the February 2019 notes, the 2020 notes, the 2024 notes the February 2021 notes, the October 2021 notes and the 2022 notes in integral multiples of 1,000 after that; for the March 2016 notes, integral multiples of £50,000 after the minimum denomination; and for the May 2019 notes, integral multiples of £1,000 after that.
BNP Paribas, Citigroup Global Markets Ltd. and Royal Bank of Scotland plc are the structuring advisers. Cooperatieve Centrale Raiffeisen-Boerenleenbank BA and Credit Suisse Securities (Europe) Ltd., together with the structuring advisers, are the joint dealer managers. Citibank NA is the tender agent.
The tender offer is intended to reduce the companys gross debt and is being made as part of its balance sheet management.
KPN (KPN) is a The Hague, Netherlands-based telecommunications and information and communication technology service provider.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.