By Paul A. Harris
Portland, Ore., July 13 – On Monday Austrian sensor manufacturer ams AG tapped both tranches of senior notes due July 31, 2025 (existing ratings for both issues Ba3/BB-/BB-) that it priced in late June, according to market sources.
A €200 million add-on to its 6% euro-denominated notes priced at 100.75 to yield 5.82%.
A $50 million add-on to its 7% dollar-denominated notes priced at 100.75 to yield 6.82%.
The Premstatten, Austria-based company plans to use the proceeds for general corporate purposes including debt refinancing.
| Issuer: | ams AG
|
| Maturity: | July 31, 2025
|
| Trade date: | July 13
|
| Existing ratings: | Moody's: Ba3
|
| S&P: BB-
|
| Fitch: BB-
|
| Trade date: | July 13
|
|
|
| Add-on to 6% notes
|
| Amount: | €200 million
|
| Coupon: | 6%
|
| Price: | 100.75
|
| Yield to maturity: | 5.82%
|
| First call: | July 31, 2022 at 104
|
| Bill and deliver: | UBS
|
| Original issue: | €650 million priced on June 30
|
|
|
| Add-on to 7% notes
|
| Amount: | $50 million
|
| Coupon: | 7%
|
| Price: | 100.75
|
| Yield to maturity: | 6.82%
|
| First call: | July 31, 2022 at 105.25
|
| Bill and deliver: | HSBC Securities (USA) Inc.
|
| Original issue: | $400 million priced on June 30
|
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