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FINWIRES

Dutch Telco KPN Issues EUR500 Million Hybrid Bond

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Koninklijke KPN (KPN.AS) said Tuesday it issued 500 million euros of 4.625% subordinated hybrid bond, with a term of 5.25 years.

The bond is first callable on Sept. 9, 2031, with a first reset date scheduled for Dec. 9, 2031.

The Dutch telecommunications company earmarked proceeds from the issuance for general corporate expenditures and debt refinancing. It issued the bond amid an ongoing offer to fully redeem 500 million euros of perpetual hybrid capital securities with a first reset date of Dec. 21, 2027.

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