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Eurofins accepts tenders for €332.2 million of 2¼%, 3 3/8% bonds
By Sarah Lizee
Olympia, Wash., May 14 – Eurofins Scientific SE announced the results of the tender offer to repurchase its €500 million 2¼% bonds due Jan. 27, 2022 (ISIN: XS1174211471) and its €500 million 3 3/8% bonds due Jan. 30, 2023 (ISIN: XS1268496640).
By the expiration, 10 a.m. ET on May 13, Eurofins received valid tenders of €332.2 million of the existing bonds.
The company decided to accept for purchase all existing bonds validly tendered under the offers, and as a result, the amount of bonds currently outstanding is respectively €314,233,000 for the 2022 bonds and €353,609,000 for the 2023 bonds.
Settlement is expected to take place on May 18.
As previously reported, the tender offers included a priority order of the 2022 bonds over the 2023 bonds and were subject to the company issuing at least €500 million of new bonds.
As the size of the company’s new €600 million 3¾% bonds due July 17, 2026 exceeds the amount of bonds validly brought to the tender offers, Eurofins intends to apply the issuance’s net proceeds to refinance its shorter-dated debt instruments.
Eurofins is a Luxembourg-based provider of food, environment and biopharmaceutical products testing services.
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