Philips prices €650 million green bond under new EU standard

Royal Philips has successfully priced a €650 million green bond under the new European Green Bond Standard. The issue, set at 99.655% with a 4.0% coupon, resulted in a yield of 4.055% and saw an oversubscription of 2.7 times. The proceeds will be utilized to finance activities aligned with the company's 2030 Impact Ambition. The bond, not expected to increase net debt, will be repaid until the maturity of Philips' 2027 bond in May 2027.

Philips maintains strong credit ratings from S&P, Moody's, and Fitch, and generates approximately €18 billion in sales annually with operations in over 100 countries.

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