Allen & Overy has advised the initial purchasers, led by HSBC, UBS Investment Bank and Deutsche Bank, in connection with the issuance of EUR 625 million 10.5% senior notes due 2029 and USD 400 million 12.25% senior notes due 2029 by ams-OSRAM AG, a developer and manufacturer of intelligent sensors and emitters headquartered in Austria and Germany. The offering was upsized by EUR200 million (equivalent) after launch.
The company intends to use the proceeds, which were initially deposited into segregated accounts, together with proceeds of certain other financing transactions, to repay indebtedness, including the company’s existing senior notes, as well as for general corporate purposes and to pay related fees and expenses.
The A&O team was led by high yield partner Marc Plepelits, senior associates Martin Schmidt and Rita Thomas, and associates Sonali Sharma and Qi Xie (all US Corporate Finance, all Frankfurt). Cross-border banking, capital markets and tax teams from A&O’s Antwerp, Brussels, Frankfurt, London, Munich, New York and Singapore offices also advised on the transaction.
