AT&S Announces Early Redemption of 2022 Hybrid Bond

AT&S Austria Technologie & Systemtechnik AG has revealed plans to redeem its outstanding 2022 hybrid bond amounting to €350 million on 22 October 2026. The redemption will occur at par plus accrued interest, with the notes being subsequently cancelled. This strategic move is enabled by the recent successful placement of the 2026 hybrid convertible bond, which provides AT&S the opportunity to significantly cut down recurring financing costs.

The new financing arrangement bears a coupon approximately 50% lower than its predecessor, reinforcing the company's long-term financial strategy. Funded from existing liquidity, this decision highlights AT&S's robust financial position. CFO Gerrit Steen emphasized the disciplined approach in optimizing the capital structure, alongside improved liquidity and financial flexibility.