Philips to Redeem EUR 1.0 Billion Debt
Jun 27, 2003
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Royal Philips Electronics announced that it will exercise its option to redeem in whole floating-rate notes with a nominal value of EUR 1.0 billion on July 30, 2003. According to the company, the notes, which were placed in July 2001, were originally scheduled to mature in July 2004. Jan Hommen, CFO of Philips, said the move continues with the company’s stated policy to further reduce its total debt position.

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