In May 2016, Signify entered into a credit agreement with a syndicate of financial institutions that established the Term Loan Facility and the Revolving Credit Facility.
Signify has drawn USD 500 million and EUR 740 million under the Term Loan Facility. These amounts have been used to refinance intra-group financing provided by Royal Philips in connection with the separation. The multi-currency Revolving Credit Facility has an amount of EUR 500 million.
Both the Term Loan Facility and the Revolving Credit Facility have a term of five years from the date of the Credit Agreement. The loans under the Term Loan Facility will be repaid at the end of the term and may also be repaid without penalty at the option of Signify during the term.
At present, Signify has not drawn down any amounts under the Revolving Credit Facility.