KPN announces € 500m Hybrid Bond and Tender Offer

Today, Koninklijke KPN N.V. (“KPN”) announces its intention to issue a EUR 500m perpetual non-call 5.25 year subordinated bond (the “Hybrid Bond”). The proceeds from the new Hybrid Bond offering will be used for general corporate purposes and refinancing of existing indebtedness. The Hybrid Bond is expected to be treated for 50% as equity and 50% as debt by S&P and Fitch and will be accounted for as equity under IFRS.