AMS Osram completed the sale of the Entertainment and Industry Lamps business announced in July 2025. Proceeds is

AMS Osram has delivered on its promise, deleveraging the business substantially. Infineon are buying the non-Optical Analog/Mixed-Signal Sensor Business for

AMS Osram has extended its long-term brand licensing agreement with Traxon Lighting, securing continued use of the OSRAM brand in

AMS Osram is targeting approximately €500m of asset disposals as part of its deleveraging strategy. Against this backdrop, it is unsurprising that

AMS Osram announced the tender of its convertible bonds, with approximately €200m tendered at 96%. While the tendered amount was

Our key takeaway from AMS Osram’s statement is the reaffirmation of its asset disposal strategy and, notably, the absence of any

We exited our convertible bond position in AMS Osram at 95% in July, as we did not believe the Company would pursue a tender for

AMS Osram has announced an agreement to divest its Entertainment & Industry Lamps business to Ushio for €114 million. The transaction is expected to

AMS Osram has successfully raised €500 million by tapping its 2029 Euro and Dollar bonds, with the proceeds primarily used to fund the

AMS Osram extended the RCF by 12 months to September 2027, which was well flagged by the Company. In addition, the Company

Fitch has downgraded AMS Osram to B, from B+, citing the weaker-than-expected demand from end-markets, leading to lower utilisation of

AMS Osram has successfully concluded its long-standing legal dispute with Renesas Electronics, securing a settlement of $51.7 million. Although the

Following the release of AMS Osram’s Q1 results, management is currently engaging with both equity and credit investors. The only feedback

Please find our unchanged analysis, after the Q4 numbers released in March, here.

With the bonds trading down 10-15 points in the downdraft of tariff concerns, we have revisited our analysis of AMS Osram. The Company’s guidance during the