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

Stable

Moody's

A3

P - 2

Negative

Debt maturity

The maturity details of our long-term debt per December 31, 2008 are included in our Annual Report 2008.

 

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

EUR 750 million

6.125%

2001

2011

USD 350 million

3-month USD Libor +1.15%

2008

2011

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 a fully drawn bilateral loan of EUR 250 million in place, which will mature in January 2014.

Standby facility - USD 2.5 billion syndicated Revolving Facility

 

Key terms & conditions

 

Borrower

Royal Philips Electronics

Facility amount

USD 2.5 billion

Purpose

- General corporate purposes

 

- Backstop for commercial paper program

Maturity

7 years, ending December 2011

Financial ratio covenants

None

MAC clauses

None

 

In addition to the USD 2.5 billion revolving facility, Philips has a EUR 450 million standby roll-over loan agreement in place, which is committed until April 2010.

Debt / Equity ratio

Debt_Equity_ratio_graph_Q32009.gif

 

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

 

 

Contingent liabilities