Philips prices €650M EU green bond for taxonomy-aligned projects
Philips priced an EU green bond raising gross proceeds equivalent to a financed amount, temporarily increasing gross debt until the 2027 maturity is repaid in May 2027. Notes due 2034 were sold at a 99.655% issue price with a 4.0% coupon and 4.055% yield, with the 7.8-year tranche oversubscribed 2.7 times. Proceeds will fund taxonomy-aligned economic activities, and the notes will be listed in Luxembourg; however, no PRIIPs key information document was prepared, making retail offerings in the EEA potentially unlawful.