Royal KPN N.V.
Royal KPN N.V. Press Release: KPN announces $ 1bn Tender Offer
04-Nov-2019 / 13:30 CET/CEST
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY
JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS
ANNOUNCEMENT
Today, Koninklijke KPN N.V. ("KPN") announces an offer to purchase for cash
(the "Offer") any and all of the outstanding $ 1 billion 8.375% senior notes
due October 2030 (the "Notes"). The Offer will be financed from available
cash.
The purpose of the Offer is to proactively manage KPN's debt and reduce its
ongoing interest expense. Terms are set out in the Offer to Purchase dated 4
November 2019 and can be obtained from the Tender Agent upon request.
The Offer will expire at 5:00 p.m. (New York Time) on 12 November 2019
unless extended. The purchase price for each $1,000 principal amount of
Notes validly tendered and accepted for purchase will be determined as
described in the Offer to Purchase, with reference to a fixed spread of 215
basis points plus the reference yield that corresponds to the bid-side price
of 1.625% U.S. Treasury Notes due August 2029 on 12 November 2019.
Goldman Sachs International acts as Structuring Adviser and together with
Credit Suisse as Dealer Managers on the Offer. Lucid Issuer Services Limited
has been appointed as Tender Agent.
Disclaimer
Nothing in this announcement constitutes an offer to buy or the solicitation
of an offer to sell the Notes. The Offer is being made only pursuant to the
Offer to Purchase.
Market Abuse Regulation
This announcement is released by KPN and contains information that qualified
or may have qualified as inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 ("MAR"), encompassing information
relating to the Offer described above.
*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
903591 04-Nov-2019
(END) Dow Jones Newswires
November 04, 2019 07:30 ET (12:30 GMT)
