{"id":27228,"date":"2022-04-28T13:08:17","date_gmt":"2022-04-28T08:08:17","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=90853"},"modified":"2022-04-28T13:08:17","modified_gmt":"2022-04-28T08:08:17","slug":"philips-launches-offering-of-green-and-sustainability-innovation-notes-and-a-series-of-liability-management-transactions","status":"publish","type":"post","link":"https:\/\/myanmarnewsgazette.com\/philips-launches-offering-of-green-and-sustainability-innovation-notes-and-a-series-of-liability-management-transactions\/","title":{"rendered":"Philips launches offering of Green and Sustainability Innovation Notes and a Series of Liability Management Transactions"},"content":{"rendered":"
\nApril 28, 2022<\/p>\n

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL, OR ANY SOLICITATION OF AN OFFER TO PURCHASE, ANY SECURITIES OF PHILIPS.<\/p>\n

Amsterdam, the Netherlands \u2013 <\/strong>Royal Philips<\/u><\/a> (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the intention to issue one or more series of notes (the \u201cNotes\u201d) under its European Medium Term Note (EMTN) program (the \u201cEMTN Offering\u201d), as well as a series of liability management transactions, which are expected to extend the company\u2019s debt maturity profile.<\/p>\n

With these transactions, Philips aims to leverage current financial market conditions to further optimize its debt maturity profile and liabilities. Once completed these transactions are expected to have a neutral impact on the amount of debt outstanding.<\/p>\n

The net proceeds of the Notes will be used for Eligible Projects in accordance with Philips Green and Sustainability Innovation Bond Framework. Pending the full allocation of the net proceeds of the Notes, Philips intends to optimize its short-term treasury liquidity profile by applying such net proceeds towards the following liability management transactions, all of which are subject to the successful completion of the EMTN Offering:<\/p>\n