Luxembourg’s Eurofins starts any-and-all tender offer for hybrid bonds

Chicago, June 21 – Eurofins Scientific SE launched a tender offer for any and all of its €300 million undated three-year non-call deeply subordinated fixed-to-floating rate bonds issued on Sept. 11, 2019 (ISIN: XS2051471105) and its €300 million undated eight-year non-call deeply subordinated fixed-to-floating rate bonds issued on April 29, 2015 (ISIN: XS1224953882), according to an announcement.

The company is offering to purchase either of the notes at par. Interest will also be paid to the settlement date.

The first par call date for the 2019 notes is Aug. 11 and for the 2015 notes is April 29, 2023.

The tender offer will end at 11 a.m. ET on June 27.

Settlement is planned for June 30.

The offer is subject to the satisfaction of a financing condition.

Noteholders who tender their notes may be given priority in the allocation of the new issue, if desired. Interested noteholders should contact a joint dealer manager as soon as possible, as the new deal is expected to price before the tender offer ends.

The company is conducting the tender offer to proactively manage its balance sheet.

Eurofins is intending to exercise its option of a clean-up call for either of the notes if noteholders tender at least 75% of the series.

The joint dealer managers are BBVA SA (+44 20 7397 6029/6061, liabilitymanagement@bbva.com), BNP Paribas (+33 1 55 77 78 94, liability.management@bnpparibas.com), Credit Agricole CIB (+44 20 7214 5903, liability.management@ca-cib.com) and Natixis (+33 1 58 55 05 56, liability.management-corporate@natixis.com).

BNP Paribas Securities Services, Luxembourg Branch is the tender and information agent (+352 2696 62301, lu_bp2s_offer@bnpparibas.com).

The international group of laboratories is based in Luxembourg.

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