EQS-Adhoc: AT&S Austria Technologie & Systemtechnik AG: AT&S decides to issue a subordinated bond (hybrid bond)

EQS-Ad-hoc: AT&S Austria Technologie & Systemtechnik AG / Key word(s):
Issue of Debt
AT&S Austria Technologie & Systemtechnik AG: AT&S decides to issue a
subordinated bond (hybrid bond)

10-Jan-2022 / 11:39 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS – a service of EQS Group
AG.
The issuer is solely responsible for the content of this announcement.

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AT&S decides to issue a subordinated bond (hybrid bond) and invites
holders of outstanding 2017 hybrid bonds to tender those for purchase in
cash

Public disclosure of inside information according to article 17 MAR

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, THE UNITED KINGDOM OF GREAT
BRITAIN AND NORTHERN IRELAND, SINGAPORE, BELGIUM, FRANCE, ITALY OR IN OR
INTO OTHER COUNTRIES IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION MAY
BE UNLAWFUL.

The Management Board of AT & S Austria Technologie & Systemtechnik
Aktiengesellschaft („AT&S“) has decided – based on today’s approval from
the Supervisory Board and subject to market conditions – to issue a deeply
subordinated bond with an indefinite term and an early redemption option
by AT&S after five years (the „Hybrid Bond“). HSBC Bank plc, Morgan
Stanley Europe SE have been mandated as Joint Global Coordinators and
Joint Bookrunners, Erste Group Bank AG has been mandated as Joint
Bookrunner.

AT&S targets an issue volume of at least EUR 300m up to benchmark size.
The issue will be directed exclusively to professional and institutional
investors and the Bonds will have a minimum denomination of EUR 100,000; a
retail offer will not take place. The total issue amount has not yet been
determined and will be set in the course of a book-building procedure.
Further details of the issuance including nominal volume, issue price and
coupon will be subject to then applicable market conditions and determined
based on investor feedback/dialogue within such a book-building procedure.
The issue is expected to settle in January 2022.

The potential proceeds of the issue shall support the strategic investment
program as the basis for the planned, long-term profitable growth.
Furthermore, the potential proceeds are intended to strengthen AT&S’s
capital base and to optimize the balance sheet structure via an IFRS
equity instrument. Moreover, it is intended to use such proceeds to
refinance the 2017 Bond as described below and for general corporate and
(re)financing purposes.

In connection with the issuance of the new Hybrid Bond, AT&S invites
eligible holders of the outstanding EUR 175,000,000 Undated Resettable
Fixed Rate Subordinated Notes (XS 1721410725) issued by AT&S on November
24, 2017 (the „2017 Bond“) to tender the 2017 Bond for purchase by AT&S in
cash, subject to the conditions described in the Tender Offer Memorandum
of AT&S dated January 10, 2022 (the „TOM“) (the „Offer“).

The purchase price for the 2017 Bond is 103.70% or EUR 1,037 per EUR 1,000
principal amount on the basis of a settlement date of January 20, 2022. In
addition, AT&S will also pay accrued interest in respect of the 2017 Bond
accepted for purchase pursuant to the Offer. The TOM is available from
Lucid Issuer Services (the „Tender Agent“) during the offer period which
will start on January 10, 2022 and which is expected to end on January 17,
2022, 5.00 pm CET. The Offer is being made as part of AT&S’s commitment to
pro-actively manage the Company’s upcoming redemptions and to optimize its
debt maturity profile.

Legal Notice/Disclaimer:
This announcement is mandatory pursuant to Article 17 of the Regulation
(EU) No 596/2014 of the European Parliament and of the Council of 16 April
2014 on market abuse („MAR“) and neither constitutes nor forms part of any
prospectus nor an offering or solicitation or invitation of any offer to
tender or to buy any securities of AT&S; neither does it constitute
financial analysis nor advice or a recommendation regarding any financial
instruments, nor does it constitute an invitation to holders of
outstanding Bonds of AT&S to make repurchase offers.

The distribution of this announcement and the offer and sale of the Hybrid
Bond referred to in this announcement, may be restricted by law in certain
jurisdictions and persons reading this announcement should inform
themselves about and comply with any such restrictions. Any failure to
comply with such restrictions may constitute a violation of securities
laws of any such jurisdiction. In connection with the listing of the
Hybrid Bond on the Official Market (Amtlicher Handel) of the Vienna Stock
Exchange, a prospectus approved by FMA (Österreichische
Finanzmarktaufsichtsbehörde) will be published and made available on the
website of AT&S. This announcement does not constitute a recommendation
with respect to the private placement of the Hybrid Bond. Investors should
consult a professional advisor as to the suitability of the private
placement for it.

In line with foreign securities laws, particularly the US Securities Act
of 1933, as amended („Securities Act“), the Hybrid Bond has not been
registered and will not be registered with foreign securities authorities
and in particular may not be offered or sold in the United States of
America („USA“) without registration or an exemption from the registration
requirements of the Securities Act. This announcement is addressed
exclusively to persons legally entitled to receive it. In particular, it
is not addressed to U.S. citizens or persons resident in the USA,
Australia, Canada, Japan, the United Kingdom of Great Britain and Northern
Ireland, Singapore, Belgium, France or Italy. This announcement may not be
disseminated in and/or within the USA, Australia, Canada or Japan or any
other jurisdiction in which the distribution or dissemination may be
unlawful and may not be distributed or forwarded to publications that are
widely available in the USA. There will be no public offer of securities
in the USA.

MiFID II target market of the hybrid bond: eligible counterparties and
professional clients only (all distribution channels). No EU PRIIPS or UK
PRIIPS key information document (KID) has been prepared. No sale to EEA or
United Kingdom retail investors.

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft – Advanced
Technologies & Solutions
AT&S is a leading manufacturer of high-end printed circuit boards and IC
substrates. AT&S industrialises leading-edge technologies for its core
business segments Mobile Devices & Substrates, Automotive, Industrial and
Medical. AT&S has a global presence with production sites in Austria
(Leoben, Fehring) and plants in India (Nanjangud), China (Shanghai,
Chongqing) and Korea (Ansan near Seoul). The company employs roughly
12,500 people. For further information please visit [1]www.ats.net

Press Contact:
Gerald Reischl, Director Communications & Public Relations
Tel: +43 3842 200 4252; Mobile: +43 664 8859 2452; [2]g.reischl@ats.net

Investor Relations Contact:
Philipp Gebhardt, Director Investor Relations
Tel: +43 3842 200 2274; Mobile +43 664 7800 2274; [3]p.gebhardt@ats.net

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
Fabriksgasse 13
8700 Leoben / Austria
[4]www.ats.net

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10-Jan-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com

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Language: English
Company: AT&S Austria Technologie & Systemtechnik AG
Fabriksgasse 13
8700 Leoben
Austria
Phone: +43 (1) 3842200-0
E-mail: ir@ats.net
Internet: www.ats.net
ISIN: AT0000969985, AT0000A09S02
WKN: 922230
Indices: ATX
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange;
Vienna Stock Exchange (Official Market)
EQS News ID: 1266736

 
End of Announcement EQS News Service

1266736  10-Jan-2022 CET/CEST

References

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2. g.reischl@ats.net
3. p.gebhardt@ats.net
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