By Carol Dean
Dutch telecommunication company KPN NV (KPN.AE) is planning
investor meetings with a view to selling a benchmark, dollar,
hybrid bond following the success of its euro and sterling hybrid
deal Thursday, KPN's chief financial officer told Dow Jones
Newswires Thursday.
The Dutch company will meet investors in the U.S. next week
starting Wednesday, moving on to Asia the following week, CFO Eric
Hageman said.
KPN sold the equivalent of EUR1.5 billion of debt Thursday via a
EUR1.1 billion and a GBP400 million hybrid bond. The two-part deal
was six times oversubscribed, spurring the company on to complete
its plans to raise around EUR2 billion through the sale of hybrid
debt.
Deutsche Bank AG, Goldman Sachs Group Inc. and JP Morgan Chase
& Co., managers on the euro and sterling bond, are also
arranging the investor meetings on the dollar issue.
The issuer is rated Baa2 by Moody's Investors Service Inc., BBB-
by Standard and Poor's Corp. and BBB- by Fitch Ratings.
Write to Carol Dean at carol.dean@dowjones.com