AT&S to Issue Hybrid Convertible Bonds and Suspend Dividends

AT&S Austria Technologie & Systemtechnik AG has announced plans to issue a hybrid convertible bond and/or a hybrid bond. This decision emerges as part of their strategy to strengthen capital and refinance company operations. The issuance will potentially raise up to €500 million, with each instrument capped at €400 million.

The bonds are aimed at institutional investors, with existing shareholder subscription rights excluded. Detailed terms such as nominal value, issue price, and coupon will align with current market conditions.

Additionally, AT&S's management will suggest no dividend payment for the financial year 2025/26 at the upcoming Ordinary General Meeting. This follows a similar proposal from the previous year, with the intention to retain capital for strategic needs.

The initiative is subject to market conditions and board approval, with possible issuance in Q2 or Q3 of 2026.