Davis Polk advised Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC as joint book-running managers on an SEC-registered offering by Koninklijke Philips Electronics N.V. of $1.5 billion principal amount of notes. The offering consisted of $1 billion principal amount of 3.75% notes due 2022 and $500 million principal amount of 5% notes due 2042.

Koninklijke Philips Electronics N.V. is the parent company of the Philips Group, whose activities include, among others, the manufacturing and design of medical systems, domestic appliances, consumer electronics and lighting. 

The Davis Polk corporate team included partner Nigel D. J. Wilson and associates Reuven B. Young and Brandon Schubert. Partner John D. Paton and associate Sarah Joy provided tax advice. Claire Lim was the legal assistant on the transaction. All members of the Davis Polk team are based in the London office.