Austria-based ams starts roadshow for €1 billion equivalent five-year notes in dollars and euros

By Paul A. Harris

Portland, Ore., June 22 – Austrian sensor manufacturer ams AG started a virtual roadshow on Monday for a €1 billion equivalent offering of five-year senior notes (expected ratings Ba3/BB-/BB-) to be sold in dollar-denominated and euro-denominated tranches, according to a market source.

Investor conference calls were scheduled to take place on Monday.

The roadshow wraps up on Thursday, and the Rule 144A and Regulation S for life notes offering is set to price thereafter.

Joint global coordinator and joint physical bookrunner HSBC is leading the dollar-denominated tranche, for which it will bill and deliver. Joint global coordinator and joint physical bookrunner UBS is leading the euro-denominated tranches, for which is will bill and deliver.

BofA Securities, Citigroup, Commerzbank, Credit Agricole CIB, Deutsche Bank and Morgan Stanley are joint bookrunners for both tranches. Erste is the co-manager for both tranches.

The notes become callable after two year a par plus 50% of the respective coupons.

The Premstatten, Austria-based company plans to use the proceeds, together with proceeds from a rights offering, to partially fund the acquisition of Osram Licht AG and to refinance debt.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.