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Philips prices EUR 650 mln green bond, first under new EU rules
Royal Philips has priced EUR 650 million in fixed-rate notes due 2034, marking the healthcare industry’s first EU Green Bond issued under the new European Green Bond Standard.
The notes were issued under Philips’ European Medium Term Note (EMTN) program and carry a 4% coupon. The issue price was set at 99.655%, resulting in a yield of 4.055%.
The 7.8-year tranche was oversubscribed 2.7 times, signaling strong investor demand.
No increase in net debt expected:
Philips said the issuance is not expected to increase net debt. Gross debt will rise temporarily until the company repays its bond maturing in May 2027.
Green financing:
An amount equivalent to the gross proceeds will be used to finance taxonomy-aligned economic activities outlined in Philips’ European Green Bond Factsheet.
The financing will support the company’s 2030 Impact Ambition.
The notes are scheduled to settle and be issued on August 28, 2026. Philips has also applied to list the notes on the Official List of the Luxembourg Stock Exchange and for trading on its regulated market.
Investment-grade focus:
Philips said it remains committed to maintaining a strong investment-grade credit rating.
The company is currently rated BBB+ by Standard & Poor’s, with a stable outlook; Baa1 by Moody’s, also with a stable outlook; and BBB+ by Fitch, with a stable outlook.
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