Dutch telco KPN has issued €750m (US$909.6m) 3.25% notes maturing in 2021 to extend the company’s debt maturity profile.
The 8.5-year bond will be used for general corporate purposes and is issued under KPN’s global medium term note programme.
As…
Dutch telco KPN has issued €750m (US$909.6m) 3.25% notes maturing in 2021 to extend the company’s debt maturity profile.
The 8.5-year bond will be used for general corporate purposes and is issued under KPN’s global medium term note programme.
As previously announced, Bank of America Merrill Lynch, Rabobank and UniCredit will act as joint bookrunners.
KPN had net debt of €12.4bn (US$15bn) at the end of Q2, with its net debt to EBITDA ratio at 2.6x. The telco has said it wants to lower this ratio to between 2.0x to 2.5x.
KPN has a credit rating of ‘Baa2’ with a negative outlook by Moody’s and ‘BBB’ with a stable outlook by S&P.
The last KPN bond issue under its global medium note programme was in February when the company raised €750m.
