AT&S Successfully Places €400 Million Convertible Bond

AT&S Austria Technologie & Systemtechnik AG has announced the successful placement of a €400 million deeply subordinated perpetual convertible bond. This bond, known as a Hybrid Convertible Bond, includes an early redemption option for the company. The nominal amount of the bond is set at €400 million, with a denomination of €100,000, and it offers an interest rate of 2.5% per annum until the First Reset Date.

The bond can be converted into new or existing ordinary no-par value bearer shares for a limited time. The initial conversion price is set at a 30% premium above the reference share price. The company retains the right to redeem the bonds entirely on certain dates or if specific conditions are met.

AT&S plans to use the proceeds for general corporate purposes, including debt refinancing. Trading on the Vienna Stock Exchange is anticipated to start around 23 June 2026. J.P. Morgan, Deutsche Bank, and Citigroup acted as joint global coordinators for this transaction.