Philips (PHG) said Thursday that it priced offerings of 1 billion euros ($1.1 billion) of notes, comprising 500 million euros fixed-rate notes due 2030 and 500 million euros fixed-rate notes due 2035 under its European medium-term note program.

For the notes due 2030, the issue price is 99.859% with a coupon of 3.25%, resulting in a yield of 3.281%. The notes due 2035 have the issue price of 99.595% with a coupon of 4%, resulting in a yield of 4.05%. The company said the five- and 10-year tranches of the notes were oversubscribed by more than 3 and 4 times, respectively.

The company expects to settle and issue the notes on May 23.

The health technology company plans to use the proceeds for general corporate purposes, repayment of its 2026 debt maturities and funding of its projects.

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