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AT&S will redeem its outstanding 2022 hybrid bond with a nominal amount of €350 million on 22 October 2026, the first available call date. The bond will be redeemed at par plus accrued interest. Following redemption, the notes will be cancelled.
The redemption follows the successful placement of the 2026 hybrid convertible bond. Through this refinancing transaction, AT&S will significantly reduce its recurring financing costs. The coupon of the new financing instrument is approximately 50% lower than that of the 2022 hybrid bond. As a result, the transaction further strengthens the Company’s long-term financing profile.
The redemption will be funded from existing liquidity and underscores AT&S’s strong liquidity and funding position.
“By redeeming the hybrid bond at the first available call date, we are continuing the disciplined optimization of our capital structure,” said Gerrit Steen, CFO of AT&S. “The transaction also reflects AT&S’s significantly improved liquidity position. In addition, the successful refinancing substantially reduces our recurring financing costs and further enhances AT&S’s financial flexibility.”
