Linklaters advises ams OSRAM on a private placement of €500m (equivalent) high yield bonds

Linklaters has advised ams OSRAM on a successful private placement tap issuance of €200m and $350m additional senior notes, which are fungible with the Company’s existing senior notes due 2029.

The additional notes were placed with approximately 20 investment managers across more than 300 separate funds, in one of the largest private placements in the European market and the first USD private placement with notes placed with US-based investors this year.

ams OSRAM intends to use the proceeds to finance the OSRAM Licht minority shareholders’ put option, repurchase a portion of the convertible bonds due 2027 and repay certain amounts drawn under the RCF.

The Linklaters team advising the Company on the transaction included lawyers across its London, Frankfurt, Brussels and Singapore offices. The team was led by high yield partner Alexander Naidenov and included US associates Kimberly Martin and Makenna Cherry.