ams Launches EUR 600 Million Convertible Bond Placement

CompaniesTechnology ♦ Published: February 26, 2018; 18:00 ♦ (Vindobona)

With the consent of the supervisory board, the management board of AMS has resolved to launch a private placement of senior unsecured zero-coupon convertible bonds due in 2025, in an aggregate nominal amount of EUR 600 million and a denomination of EUR 200,000 each. The Bonds are initially convertible into 4.41 million new ordinary no par value bearer shares from the Company's conditional capital, representing approximately 5.2% of the current outstanding share capital of ams. Subscription rights of existing shareholders of ams to subscribe to the Bonds have been excluded. The Bonds will not bear interest.

AMS Launches EUR 600 Million Convertible Bond Placement / Picture: ©

Following today's bookbuilding process, the Bonds have been issued at 102.0% of their principal amount and the initial conversion premium was fixed at 45% above the reference share price of CHF 108.25 translated into EUR at the prevailing exchange rate, corresponding to an initial conversion price of EUR 136.04. The Bonds will have a maturity of 7 years and will be redeemed at 100% of…

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