BCB sells $33.5 million; Eurofins places €550 million Schuldschein

By Devika Patel

Knoxville, Tenn., July 30 –The week opened with two private placements announced: Bayonne, N.J.-based banking institution BCB Bancorp Inc. completed a $33.5 million private placement of fixed-to-floaters and Luxembourg-based provider of food, environment and biopharmaceutical products testing services Eurofins Scientific SE sold a €550 million Schuldschein.

BCB Bancorp settled a $33.5 million private placement of fixed-to-floating rate subordinated notes due 2028. Sandler O’Neill + Partners, LP was the agent.

Interest accrues at 5.625% per year for the first five years. From then onwards, the notes will bear interest at a floating rate equal to Libor plus 272 basis points, which will be reset quarterly.

Proceeds will be used for general corporate purposes.

Eurofins issued a €550 million Schuldschein with a 1.38% blended interest rate.

The financing includes tranches of four and seven years. The tranches were both fixed and floating.

In the four-year tranches, the fixed rate tranche was priced at1.073% per annum and the floating-rate tranche at six-month Euribor plus 95 bps per annum. In the seven-year tranches, the fixed rate tranche was priced at 1.834% per annum and the floating-rate tranche at six month Euribor plus 130 bps.

BayernLB, BNP Paribas Securities Corp., HSBC Securities (USA) Inc. and UniCredit acted as joint arrangers and HSBC is the loan agent.

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