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Philips successfully prices offering of Notes for EUR 1 billion

Amsterdam, the Netherlands – Koninklijke Philips N.V. (“Royal Philips”) (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the successful pricing of its issue of EUR 500 million fixed rate notes due 2024 and EUR 500 million fixed rate notes due 2028 (together the “Notes”). 

 The net proceeds of the offering will be used for general company purposes, including the repayment of the credit facility dated April 13, 2018 which was entered into for the purpose of financing the redemption of the 3.750% Notes due 2022.

 The issue price for the notes due 2024 is 99.534% with a Coupon of 0.750%, resulting in a yield of 0.830%. The issue price for the notes due 2028 is 98.884% with a Coupon of 1.375%, resulting in a yield of 1.496%.

 Settlement and issue of the Notes is scheduled for May 2, 2018. Application has been made for the Notes to be listed on the Official List of the Luxembourg Stock Exchange and to trading on the regulated market of the Luxembourg Stock Exchange.

 Philips is committed to a strong investment grade credit rating. Currently, the company has a BBB+ rating (with stable outlook) by Standard & Poor’s, a Baa1 rating (with stable outlook) by Moody’s and an A- rating (with stable outlook) by Fitch. 


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