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Royal Schiphol Group NV - Tender Offer - Launch

Royal Schiphol Group N.V. (formerly N.V. Luchthaven Schiphol) announces tender offers for certain series of its Euro denominated Notes

22 MAY 2023

Full announcement available via Schiphol

"Royal Schiphol Group N.V. (the "Offeror") today announces separate invitations to holders of its outstanding (i) €300,000,000 0.000 per cent. Fixed Rate Senior Unsecured Notes due 22 April 2025 (ISIN: XS2333391303) (the "2025 Notes"), (ii) €400,000,000 2.000 per cent. Guaranteed Notes due 5 October 2026 (issued in one tranche of €300,000,000 on 5 October 2015 and one tranche of €100,000,000 on 30 May 2017 which tranches were then consolidated to form a single series) (ISIN: XS1301052202) (the "2026 Notes"), and (iii) €700,000,000 0.375 per cent. Fixed Rate Senior Unsecured Notes due 8 September 2027 (ISIN: XS2227050023) (the "2027 Notes" and, together with the 2025 Notes and the 2026 Notes, the "Notes" and each a "Series"), each guaranteed by Schiphol Nederland B.V. (the "Guarantor"), to tender their Notes for purchase by the Offeror for cash up to a Target Consideration Amount of €350,000,000 (subject as set out in the Tender Offer Memorandum (as defined below)) (each such invitation an "Offer" and together the "Offers").


"The relevant Purchase Price in respect of each Series will be determined at the Pricing Time as described in the Tender Offer Memorandum in accordance with market convention, and is intended to reflect a yield to maturity of each applicable Series on the Settlement Date equal to the relevant Purchase Yield.

Rationale for the Offers

The Offers allow the Offeror to manage its bond redemption profile, and are consistent with the Offeror’s priority to maintain a strong, resilient balance sheet. The Offeror intends to cancel all Notes it purchases pursuant to the relevant Offer(s)."


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