Bondholder info

The rating of the company

Philips' existing long-term debt is rated A3 by Moody's and A- by Standard & Poor's. It is our objective to manage our financial ratios to be in line with A3 / A-.

Debt rating

 

Agency

Long-term

Short-term

Outlook

Standard & Poor's

A -

A - 2

Negative

Moody's

A3

P - 2

Negative

Debt maturity

The maturity details of our long-term debt per December 31, 2010 are included in our Annual Report 2010.

 

In March 2008, Philips placed a total of USD 3.1 billion worth of new Philips Senior Notes. Philips used the proceeds of this offering to refinance the EUR 1.7 billion worth of Philips notes that matured in the first half of 2008.

Outstanding bonds

Interest rate

Issue date

Maturity

USD 500 million

4.625%

2008

2013

USD 143 million

7.250%

1993

2013

USD 1,250 million

5.750%

2008

2018

USD 99 million

7.750%

1995

2025

USD 103 million

7.125%

1995

2025

USD 166 million

7.200%

1996

2026

USD 1,000 million

6.875%

2008

2038

 

In addition to the bonds, Philips has two bilateral loans in place: a fully drawn bilateral loan of EUR 250 million, which will mature in January 2014 and an undrawn subordinated loan of EUR 200 million that will mature in 2021.

Backstop facility - EUR 0.5 billion

 

Key terms & conditions

 

Borrower

Royal Philips Electronics

Facility amount

EUR 0.5 billion

Purpose

Backstop for EUR 2 billion share repurchase program 2011-2012

Maturity

July 2012

Financial ratio covenants

None

MAC clauses

None

 

Bilateral standby facility - EUR 0.9 billion

 

Key terms & conditions

 

Borrower

Royal Philips Electronics

Facility amount

EUR 0.9 billion

Purpose

General corporate purpose                                                    

Maturity

June 2013                                   

Financial ratio covenants

None

MAC clauses

None

 

Standby facility - EUR 1.8 billion syndicated Revolving Facility

 

Key terms & conditions

 

Borrower

Royal Philips Electronics

Facility amount

EUR 1.8 billion

Purpose

- General corporate purposes

 

- Backstop for commercial paper program

Maturity

5 years, ending February 2016                                               

Financial ratio covenants

None

MAC clauses

None

 

Debt / Equity ratio

Debt Equity Ratio graph Q4 2011

 

As from Jan 1, 2009 we changed from US GAAP to IFRS; historic numbers have not been adjusted to IFRS.

 

 

Contingent liabilities