Philips Inks €1.8B Loan Refinancing

Philips Electronics has secured a loan refinancing worth €1.8 billion.

Philips Electronics has secured a loan refinancing worth €1.8 billion, Reuters reports. The European company has secured the revolving credit line to cut down its borrowing costs. The loan, which pays an interest margin of 40 basis points, has a maturity of five years, with two one-year extension options. The loan is being arranged by Philips and coordinators Citigroup and Royal Bank of Scotland.

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