AT&S Launches €400 Million Perpetual Convertible Bond

On June 16, 2026, AT&S Austria Technologie & Systemtechnik AG initiated an offering for a €400 million deeply subordinated perpetual convertible bond. This move follows the company's previous announcement on May 20, 2026, to raise up to €500 million. The bond, which includes an early redemption option, will be convertible into ordinary shares of the company within a specified time frame.

Exclusively available to institutional investors outside the U.S., the bond's issuance utilizes an accelerated bookbuilding process. Interest rates for the bond range from 2.5% to 3.0% per annum until June 23, 2031, with future adjustments based on market conditions. The conversion price is set at a premium of 25% to 30% above AT&S's current share price.

Proceeds from this issuance will support general corporate purposes, including refinancing existing debts. The bond is anticipated to be admitted for trading on the Vienna Stock Exchange.