Royal KPN N.V.
Royal KPN N.V. Press Release: KPN issues EUR 500m hybrid bond
30-Oct-2019 / 17:45 CET/CEST
NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR ANY PERSON LOCATED OR RESIDENT IN
THE UNITED STATES OF AMERICA OR IN ANY OTHER JURISDICTION WHERE IT IS
UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT
Today, Koninklijke KPN N.V. ("KPN") has successfully issued a EUR 500
million perpetual non-call 5.25 year subordinated bond with a 2.00% coupon
until the first reset date on 8 February 2025. The hybrid bond will be
listed on Euronext Dublin's Global Exchange Market.
Proceeds will be used for general corporate purposes, including refinancing
of debt. This transaction will enable KPN to materially lower the cost of
its outstanding hybrid capital.
The new hybrid bond will be treated for 50% as equity and 50% as debt by the
credit rating agencies and will be accounted for as equity under IFRS. The
hybrid bond is expected to be rated Ba2 by Moody's, BB+ by S&P and BB+ by
Fitch.
Barclays and Goldman Sachs acted as Structuring Advisors and Joint Global
Coordinators and together with BNP Paribas and NatWest Markets as Joint Lead
Managers for the transaction.
Disclaimer
These materials are not for release, distribution or publication, whether
directly or indirectly and whether in whole or in part, into or in the
United States, Australia, Canada or Japan or any (other) jurisdiction where
to do so would constitute a violation of the relevant laws of such
jurisdiction.
The bonds are not and will not be registered under the US Securities Act of
1933, as amended (the US Securities Act) and will also not be registered
with any authority competent with respect to securities in any state or
other jurisdiction of the United States of America. The bonds may not be
offered or sold in the United States of America without either registration
of the securities or an exemption from registration under the US Securities
Act being applicable.
*For more information:*
KPN Royal Dutch Telecom
Investor Relations
Wilhelminakade 123
3072 AP Rotterdam
E-mail: ir@kpn.com
Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
End of Announcement - EQS News Service
901163 30-Oct-2019
(END) Dow Jones Newswires
October 30, 2019 12:45 ET (16:45 GMT)
