KPN Repurchases €407M in Hybrid Securities and Intends to Redeem Remaining Balance
Launched on September 1, 2026 and closed on September 8, the offer by Dutch telecom operator leaves €93M in securities in circulation, which the group intends to redeem early.
Koninklijke KPN N.V. announced on September 9, 2026 the results and pricing of its repurchase offer relating to its perpetual fixed-rate resettable hybrid securities in the amount of €500M (ISIN XS2486270858), with the first reset date set for December 21, 2027.
The company accepted for repurchase a nominal amount of €407M in validly tendered securities. The repurchase price retained stands at 102.608% of par, for a repurchase yield of 3.379% and a reference rate of 2.879%.
The nominal amount of securities remaining in circulation after the settlement date will amount to €93M.
Hybrid Financing and Redemption of Non-Tendered Securities
Free · Every morning
Technical market signals, before the opening bell.
Bullish and bearish momentum, analyst changes, stocks to watch — automatically computed from Euronext data.
✓ Before 9 AM every morning✓ Euronext data✓ AI-powered analysis
You're in — subscription confirmed!
Your first edition is on its way. Check your spam folder and add us to your contacts.
An error occurred.
Indicative data. No investment advice. Unsubscribe at any time.
Gratuit · chaque matin
Ne ratez plus rien sur vos actions
La tendance derrière les cours. L'essentiel des valeurs Euronext en quelques minutes.
📈les valeurs en mouvement, sur la durée
🎯les objectifs d'analystes qui évoluent
📰les actualités qui font bouger les cours
tendance · 6 séances
✓ C'est fait, vous êtes inscrit !
Votre première édition arrive bientôt. Pensez à vérifier vos spams.
Une erreur est survenue.
CAC 40 · SBF 120 · données indicatives · aucun conseil en investissement · désinscription à tout moment.
The offer is financed by a portion of the proceeds from a €500M perpetual hybrid bond with a 4.625% coupon, not redeemable for 5.25 years (first reset date on December 9, 2031, ISIN XS3485542800), the price of which was set on September 1, 2026. KPN stated that this transaction aims to manage its hybrid capital layer and optimize its interest costs.
As the amount tendered and accepted exceeds the 75% threshold provided for in the terms of the securities (substantial repurchase redemption clause), KPN announced its intention to exercise the early redemption option and redeem at par value all non-tendered securities, once the required conditions are satisfied.
Settlement of the offer is expected on September 10, 2026, subject to satisfaction of the new financing condition. Barclays and ING acted as Dealer Managers and Kroll Issuer Services Limited acts as offer agent.
« On track to reach full-year outlook » ; « KPN reiterates its full-year 2026 outlook » ; « confident in delivering our full-year 2026 outlook and mid-term ambitions »
Outlook / guidance
Management commentary: KPN reiterates its full-year 2026 outlook with service revenue growth of approximately 1.5%, adjusted EBITDA AL of approximately € 2,670m, Capex of approximately € 1.25bn, and Free Cash Flow of more than € 950m.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
