Characteristics of long-term debt
- Total net debt position of EUR 3.3 billion
- Maturities up to 2042
- Average tenor of long-term debt (excl. Philips Lighting) is 9.4 years
- No financial covenants
- Philips Lighting debt includes 5 year loans of EUR 740 million and USD 500 million
- On December 20th, 2016, Philips announced the early redemption of all 2018 bonds per January 20th, 2017. This resulted in a reclassification of USD 1,250 million of 2018 bonds from long-term to short-term debt per Q4 20161.
1 In Q1 2017 the reclassification from long-term to short-term debt will be reversed and the Notes will be redeemed in full.