Contact:
Martin Theyer
Phone: +43 3842 2005909
E-Mail: m.theyer@ats.net
- Financing
- Schuldschein Loan
- AT&S
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Leoben (pts014/13.03.2014/09:35) - AT&S AG has successfully placed a Schuldschein loan in the aggregated amount of EUR 158 million consisting of several tranches with a tenor of five, seven and ten years. Each tranche was priced at the lowest end of the initial spread range. The Schuldschein loan was not only placed in Austria and Germany but also with investors in other European and non-European countries. The proceeds will be used to finance AT&S's planned expansion, i.e. to expand its business to include the production of IC substrates, to reinforce the group's financial flexibility, to change the term structure of the debt portfolio and for general corporate purposes.
"The issuing of the Schuldschein loan represents an important step towards the diversification and further optimisation of the Group's financing. By issuing the Schuldschein loan we are taking advantage of the on-going attractive interest rate level, especially with respect to the long tenors", says Andreas Gerstenmayer , CEO of AT&S. "In addition we have significantly improved the average duration of our financial debt portfolio to better match our long-term asset base", he adds.
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