bpv Huegel advises ams OSRAM on EUR 1bn High-Yield Senior Notes issuance and EUR 600mn Revolving Credit Facility Amendment

ams OSRAM issued EUR 1bn 7.25% senior unsecured notes due 2032 in an upsized offering and amended and restated its EUR 600mn Revolving Credit Facility.

15 June 2026. bpv Huegel advised ams OSRAM on the Austrian law aspects of the EUR 1bn notes issuance and the amendment and restatement of its Revolving Credit Facility.

This issuance was the largest single-B unsecured high-yield issuance in Europe in the last 5 years. Following strong investor demand, the offering was upsized from EUR 700mn.

The proceeds from the offering will be used, together with cash on balance sheet, to (i) redeem in full ams OSRAM’s outstanding USD 750mn 12.250% Senior Notes due 2029, (ii) partially redeem its outstanding EUR 1,025bn 10.50% Senior Notes due 2029, and (iii) pay related costs, fees and expenses, including redemption premiums and accrued interest.

Furthermore, ams OSRAM has amended and restated its Revolving Credit Facility, which provides for total commitments of EUR 600mn.

The bpv Huegel capital markets and finance team was led by Christoph Nauer (Capital Markets) and included Roland Juill (Lead, Capital Markets), Ingo Braun (Lead, Finance & Regulatory) as well as Barbara Valente (Capital Markets, Finance & Regulatory), Nicolas Wolski (Tax), Daniel Maurer and Laurenz Kainrath (Capital Markets, Finance & Regulatory).

ams OSRAM was advised together with Linklaters LLP. The global coordinators and bookrunners were advised by Skadden, Arps, Slate, Meagher & Flom (UK) LLP and Weber Harrer Rechtsanwälte GmbH & Co KG.

The ams OSRAM Group (SIX: AMS) is a global leader in innovative light and sensor solutions as a specialist in Digital Photonics the company develops high-performance optical semiconductors and sensor solutions for sensing, illumination and visualisation across automotive and industrial end markets, as well as selected high-volume consumer applications. Headquartered in Premstätten/Graz (Austria), with a second headquarter in Munich (Germany), the Group generated revenue of EUR 3.3 billion in 2025.

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