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Dutch Telco KPN Prices EUR500 Million Perpetual Notes Tender Offer

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Koninklijke KPN (KPN.AS) said Wednesday it will repurchase 407 million euros of notes under its tender offer of 500 million euros perpetual fixed-rate resettable capital securities.

The telecommunications company will pay a purchase price of 102.608% of the principal amount of the notes. Following the settlement of the offer on Thursday, 93 million euros of the notes will remain outstanding.

The company will partially finance the tender offer from the proceeds of its recent 500 million euros offering of 4.625% perpetual non-call 5.25-year hybrid bond.

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