Press release: KPN announces results of its Tender Offer

KPN announces results of its Tender Offer

Introduction

Today, Koninklijke KPN N.V. (“KPN”) announces the final results of its invitation to holders of the outstanding USD 600,000,000 Capital Securities due October 2073 (the “Securities”) to tender some or all of their Securities for purchase by KPN for cash, launched on 13 September 2022 (the “Offer”). The Offer was made on the terms and subject to the conditions contained in the Offer to Purchase, dated 13 September 2022 (the “Offer to Purchase”) and expired at 5:00 p.m. (New York Time) on 20 September 2022.

Final results and settlement

KPN was offered and has accepted a principal amount of USD 454.4 million for purchase.

Settlement of the Offer and payment of the Purchase Price in respect of the Securities accepted for purchase is expected to take place on 22 September 2022. The total consideration is USD 475.7 million including accrued interest of USD 15.4 million. KPN finances the Offer from available liquidity resources.

Securities that have not been tendered for purchase pursuant to the Offer will remain outstanding.

Credit Suisse acted as Structuring Adviser and, together with Barclays, Rabobank, Santander and UniCredit, as Dealer Managers on the Offer. Kroll Issuer Services Limited has been appointed as Tender Agent.  

Offer and distribution restrictions

This announcement does not constitute an invitation to participate in the Offer. The distribution of this announcement and/or the Offer to Purchase in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Offer to Purchase come(s) are required by KPN, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.

Market Abuse Regulation

This announcement is released by KPN and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (“MAR”), encompassing information relating to the Offer described above.