Austria-based ams AG taps early June issues of 6% and 7% notes due 2025 at 100.75

By Paul A. Harris

Portland, Ore., July 13 – Austrian sensor manufacturer ams AG set the price of a €200 million add-on to its 6% senior notes due July 31, 2025 and a $50 million add-on to its 7% senior notes due July 31, 2025 (existing ratings for both issues Ba3/BB-/BB-) both at 100.75, according to market sources.

UBS will bill and deliver for the 6% notes, which are euro-denominated. HSBC Securities (USA) Inc. will bill and deliver for the 7% notes, which are dollar-denominated.

The 6% notes become callable on July 31, 2022 at 104. The 7% notes become callable on July 31, 2022 at 105.25

The Premstatten, Austria-based company plans to use the proceeds for general corporate purposes including debt refinancing.

The original €650 million issue of 6% notes and the $400 million issue of 7% notes both priced on June 30.

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