Royal Schiphol starts tender offers for euro-denominated notes

Chicago, May 22 – Royal Schiphol Group NV started tender offers for up to a €350 million payment from certain series of its euro-denominated notes on Monday, according to a document.

The separate invitations pertain to the:

• €300 million outstanding zero-coupon notes due April 22, 2025 (ISIN: XS2333391303) with pricing to be based on the 2025 interpolated mid-swap rate and no purchase spread;

• €400 million outstanding 2% notes due Oct. 5, 2026 (ISIN: XS1301052202) with pricing to be based on the 2026 interpolated mid-swap rate and a 10 basis points purchase spread; and

• €700 million outstanding 0.375% notes due Sept. 8, 2027 (ISIN: XS2227050023) with pricing to be based on the 2027 interpolated mid-swap rate and a 15 bps purchase spread.

The capped purchase amount will not include payments for accrued interest.

There is no acceptance priority yet determined. The offeror will decide the allocation later and proration may apply.

Tender instructions are due by 11 a.m. ET on June 1.

Instructions are irrevocable.

Indicative results will be announced on June 2 and pricing will take place on the same day at 6 a.m. ET.

Final results will be announced after pricing.

Settlement will take place on June 6.

ING Bank NV (+44 20 7767 6784, liability.management@ing.com), NatWest Markets NV (+31 2 04 64 27 55, NWMLiabilityManagement@natwestmarkets.com) and SMBC Bank EU AG (+49 69 2222 9 8481, liability.management@smbcnikko-cm.com) are the dealer managers.

Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, schiphol@is.kroll.com, https://deals.is.kroll.com/schiphol).

Haarlemmermeer, Netherlands-based Royal Schiphol is the owner and operator of Amsterdam Airport Schiphol, Rotterdam, The Hague Airport and Lelystad Airport, and holds a majority stake in Eindhoven Airport.

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