Ams OSRAM Places €500m Senior Notes and Reports Preliminary Q2 Results

ams OSRAM AG has successfully placed €500 million in senior notes due in 2029. This move is aimed at pre-financing potential exercises of OSRAM minority put options and repurchasing €150 million in convertible bonds due in 2027, contingent upon market conditions. A private placement involved €200 million at 10.5% and $350 million at 12.25% senior notes.

In preliminary Q2 results, ams OSRAM reported revenues of €775 million, aligning with previous guidance despite a €35 million negative impact from a weaker USD. Adjusted EBITDA reached €145 million, with a margin of 18.8%. Although free cash flow remained negative at €-14 million, it marked an improvement from the previous quarter. The company forecasts an increase in Q3 revenues to €790-€890 million and confirms a year-end free cash flow over €100 million.