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AT&S Successfully Issues 175 Million Hybrid Bond
November 20, 2017 | AT&SEstimated reading time: Less than a minute
AT&S Austria Technologie & Systemtechnik Aktiengesellschaft has completed the issue of a subordinated bond with an indefinite term and an early redemption option after five years (hybrid bond) very successfully. The issue, which was exclusively directed at institutional investors with a minimum subscription of EUR 100,000, was primarily placed with international investors with the issue amount totalling EUR 175 million. The targeted transaction volume thus significantly exceeded the first time a hybrid bond was issued by AT&S. The coupon was determined at 4.75% due to the great interest. After admission to trading, the hybrid bond will be traded on the Semi-official Market of the Vienna Stock Exchange.
“With the proceeds from this issue, we can strengthen our equity base and at the same time support the further strategic investment programme as a basis for long-term profitable growth,” said CEO Andreas Gerstenmayer. “We are pleased that we have also been able to broaden our investor base after the very positive investor road show due to the strong demand. This demonstrates the confidence in our development so far and our plans for the future.”
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