Apple chip supplier AMS brings first CB for $350m
AMS, the Austrian maker of sensors and microchips, opened a new week in the equity-linked market on Monday with its first ever convertible bond issue, which was priced at attractive terms for the issuer.
Deutsche Bank was the only bank on the deal.
Despite AMS being a new and unrated issuer, from an under-represented sector, the trade was not a total surprise to the market.
Under Austrian law, AMS had to disclose on September 6 that it would exclude shareholders' pre-emption
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