• Privé
• Zakelijk
• Corporate
• KPN Vandaag

• Artikel

Den Haag, 31-10-06

NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR ITALIAN PERSON OR TO ANY PERSON OR ADDRESS IN THE UNITED STATES OR ITALY (SEE OFFER RESTRICTIONS BELOW AND IN THE TENDER OFFER MEMORANDUM)

Om het aflossingsprofiel te verlengen lanceert KPN vandaag de uitnodiging tot terugkoop van de EUR 1,5 miljard uitstaande obligatielening, met een coupon van 4,75% en een looptijd tot november 2008, tot een maximaal bedrag van EUR 750 miljoen. De terugkoop zal worden gefinancierd met de uitgifte van een nieuwe Eurobond onder KPN’s Global Medium Term Note programma. De terugkoop is onder de voorwaarde van een succesvolle nieuwe bonduitgifte, die naar verwachting op korte termijn gelanceerd wordt, afhankelijk van markt condities. De prijsbepaling en settlement van de nieuwe Eurobond zullen naar verwachting tegelijkertijd met de terugkoop plaatsvinden.

Onderstaand een samenvatting van het geplande tijdschema van de transactie.

KPN heeft een BBB+ rating (negative outlook) van S&P en Baa2 (stable outlook) van Moody’s.

Terugkoop details

De voorwaarden voor de terugkoop tot maximaal EUR 750 miljoen van de EUR 1.500.000.000 obligaties met een coupon van 4,75% en een looptijd tot november 2008 (ISIN XS0091945419) zijn verder gespecificeerd in het Tender Offer Memorandum van 31 oktober 2006, waarvan kopieën beschikbaar zijn bij ondergenoemde dealer managers. Obligatiehouders die hun obligaties aanbieden voor terugkoop op of voor de vervaldag (dinsdag 7 november om 16:00), zullen de verkoopprijs en opgelopen rente ontvangen voor alle obligaties die door KPN voor terugkoop zijn geaccepteerd. De verkoopprijs wordt bepaald op basis van de yield van de geïnterpoleerde mid-swaps plus 5 bps. Indien het aanbod voor terugkoop groter is dan EUR 750 miljoen, wordt de terugkoop pro-rata toegekend. De pro-rato factor (indien nodig) wordt vòòr de prijsbepaling aangekondigd.

BNP Paribas, Credit Suisse Securities (Europe) Limited en Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank International) zijn allen dealer manager. Deutsche Bank AG, London Branch en Deutsche Bank AG, Amsterdam Branch zijn Tender agents.

Verdere details over de uitnodiging tot terugkoop kunnen gericht worden aan de dealer managers:

BNP Paribas

Telephone: +44 (0) 20 7595 8668

Facsimile: +44 (0) 20 7595 5095

Email: debt.restructuring@bnpparibas.com

Credit Suisse Securities (Europe) Limited

Telephone: +44 (0) 207 883 6748

Facsimile: +44 (0) 207 892 1310

Email: paul.hawker@credit-suisse.com

Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank International)

Telephone: +31 (0) 30 216 9024

Facsimile: +31 (0) 30 291 8778

Email: liabilitymanagement@rabobank.com

Verzoeken voor informatie over de terugkoopprocedures kunnen gericht worden aan de tender agents:

Deutsche Bank AG, London Branch

Telephone: +44 (0)20 7547 5000

Fax: +44 (0)20 7547 5001

Email: xchange.offer@db.com

Attention: TSS - Restructuring Services Group

Deutsche Bank AG, Amsterdam Branche

Telephone: +31 20 555 4822

Fax: +31 20 555 4529

Email: xchange.offer@db.com

Attention: TSS - Restructuring Services Group

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which should be read carefully before any decision is made with respect to the Invitation to Tender. If you are in any doubt as to the action you should take, you are recommended to seek your own financial advice, including as to any tax consequences, from your stockbroker, bank manager, solicitor, accountant or other independent financial adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to tender Notes pursuant to the Invitation to Tender. None of the Company, the Dealer Managers or the Tender Agents makes any recommendation as to whether Noteholders should offer to sell Notes pursuant to the Invitation to Tender.

OFFER AND DISTRIBUTION RESTRICTIONS

The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by the Company and the Dealer Managers to inform themselves about and to observe any such restrictions. Neither this announcement nor the Tender Offer Memorandum constitutes a solicitation of an offer to sell Notes in any jurisdiction in which such solicitation or offer is unlawful, and offers to sell will not be accepted from Noteholders located or resident in any jurisdiction in which such solicitation or offer is unlawful. In those jurisdictions where the securities or other laws require the Invitation to be made by a licensed broker or dealer, any actions in connection with the Invitation shall be deemed to be made on behalf of the Company by the Dealer Managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction.

United States

The Invitation to Tender is not being made, directly or indirectly, to beneficial owners of Notes who are located in the United States or are U.S. persons (within the meaning of Regulation S under the U.S. Securities Act 1933, as amended (the “Securities Act”)) and Notes may not be offered for sale by or on behalf of such persons. Accordingly, copies of this announcement, the Tender Offer Memorandum and any related documents are not being and must not be distributed, forwarded, mailed, transmitted or sent to such persons and such persons receiving this announcement or the Tender Offer Memorandum must not distribute, forward, mail, transmit or send it or any related documents to such persons. Offers to sell made by a resident of the United States, by any agent, fiduciary or other intermediary acting on a non-discretionary basis for a principal giving instructions from within the United States, or by any U.S. person, will not be accepted.

Italy

The Invitation to Tender is not being made in the Republic of Italy. The Invitation to Tender, this announcement and the Tender Offer Memorandum have not been submitted to the clearance procedures of the Commissione Nazionale per le Società e la Borsa (CONSOB) pursuant to Italian laws and regulations. Accordingly, Noteholders are hereby notified that, to the extent such Noteholders are persons resident and/or located in the Republic of Italy, the Invitation to Tender is not available to them and they may not submit offers to sell Notes in respect of the Invitation to Tender and, as such, any offers to sell received from or on behalf of such Noteholders shall be ineffective and void. Neither this announcement, the Tender Offer Memorandum nor any other solicitation material relating to the Invitation to Tender or the Notes may be distributed or made available in the Republic of Italy.

The Invitation to Tender is not being made and this announcement and the Tender Offer Memorandum are not being distributed to the public in the United Kingdom, France or Belgium. In such jurisdictions, only certain persons may participate in the Invitation to Tender and receive this announcement and the Tender Offer Memorandum (as more fully set out in the Tender Offer Memorandum).