AMS Osram Agrees to Some of Kite Lake’s Demands on Debt Deal (1)

AMS Osram has agreed to some of Kite Lake Capital Management’s proposals to tweak the terms of its debt after the bondholder pushed back against the Swiss-listed company’s initial plan.

“The issuer has reviewed the countermotion in detail and supports the holder proposal,” on how to alter the terms of its €760 million ($856 million) convertible securities due in 2027, AMS Osram said in statement on Tuesday, without mentioning Kite Lake by name.

Bloomberg on Monday reported that the alternative asset manager had launched a countermotion to the company’s own strategy as it seeks to ease the refinancing of ...