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© AT&S PCB | November 11, 2011

AT&S places EUR 100 million corporate bond

The AT&S Group has successfully issued a EUR 100 million (m) corporate bond with duration of five years.

The bond was placed with institutional investors in a matter of hours. Austrian private investors will have the opportunity to subscribe to the issue from 14-16 November (early termination reserved). The proceeds will mainly be used for improving the quality of the funding portfolio and general strategic objectives. The placement comes shortly after the Group posted the strongest quarterly revenue in its history. "Our minimum expectation was to raise EUR 80m, but in light of the attractive 5% coupon, AT&S's excellent credit rating and strong investor demand, the decision was taken to increase the volume of the issue to EUR 100m. We intend to use the proceeds to optimise our repayment schedule and secure longer-term financing for property, plant and equipment," explained CEO Andreas Gerstenmayer. The issue price of the bond is 100.849%, including a subscription fee of 1.5% of the nominal value. Subscription will open to private investors and AT&S employees on 14 November, and the subscription period will end - subject to early closure - on 16 November. The value date of the bond (ISIN: AT0000A0R2J2) is 18 November, and the issue will be listed on the Semi-Official Market of the Vienna Stock Exchange. The denomination is EUR 1,000.
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