Philips announces filing of registration statement for benchmark USD Notes issuance
Royal Philips Electronics (NYSE:PHG, AEX:PHI) today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission in connection with its intention to launch a USD benchmark issue (“the Notes“) to refinance the EUR 1.7 billion worth of Philips notes that mature during the course of 2008 and for general corporate purposes. Certain variables of this intended issuance such as total size and maturity of the notes are still to be determined.
Philips’ existing long-term debt is rated A3 stable outlook by Moody’s and A- stable outlook by Standard & Poor’s. The issuance of these Notes is in line with Philips’ objective to maintain current credit ratings.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.