Deals & Cases

ams AG Placement of EUR 600 million 7-year Zero-Coupon Convertible Bonds

10.03.2018

Schellenberg Wittmer advised ams AG on its placement of EUR 600 million 7-year zero-coupon convertible bonds.

SIX Swiss Exchange-listed ams AG, a leading worldwide supplier of high-performance sensor solutions headquartered in Austria, has announced the successful placement of senior unsecured zero-coupon convertible bonds due 2025 in an aggregate nominal amount of EUR 600 million and a denomination of EUR 200,000 each. The bonds will be admitted to trading on the Open Market segment of the Frankfurt Stock Exchange -  and initially convertible into 4.41 million new ordinary no par value bearer shares (listed on SIX Swiss Exchange), -  which will originate from the company’s conditional capital, representing approximately 5.2% of the current outstanding share capital.

For the Swiss law aspects of this transaction, including the formal listing of the underlying shares and the conversion mechanics, Schellenberg Wittmer has acted as Swiss legal counsel to ams AG.

The team consisted of partner Philippe Borens (Banking/Finance) and associates Fabio Elsener, Cornelia Jurt (both Banking/Finance) and Roland Wild (Tax).

 

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