ams-Osram wraps redemption of $450 million, €850 million notes due 2025

By Wendy Van Sickle

Columbus, Ohio, Dec. 13 – ams-Osram AG competed the redemption of all $450 million of outstanding 7% senior notes due 2025 and €850 million of 6% senior notes due 2025 as part of a comprehensive financing plan, according to a news release.

The company raised CHF 781 million via a rights issue and a €1 billion equivalent senior notes issuance and used part of the proceeds to redeem the 2025 notes.

The company said it plans to use the remainder of the proceeds to repay some other debt becoming due until the end of 2025, fund general corporate purposes and pay related fees and expenses.

ams-Osram is a Munich-based electric light manufacturer.

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