By Lisa Kerner
Charlotte, N.C., July 27 - Eurofins Scientific extended the average maturity of its debt profile through the placement of a €170 million senior offering (Schuldschein loan) with international investors.
Bayern LB arranged the oversubscribed offer.
The offer carries maturities of five years and seven years with interest rates of six-month Euribor plus 180 basis points (variable tranches) or mid-swap plus 220 bps (fixed tranches).
Proceeds will be used to repay debt.
"The transaction enhances Eurofins' strategic flexibility and reinforces our financial capability to execute on our business plans and respond to compelling opportunities," chief executive officer Dr. Gilles Martin said in a news release.
Eurofins is a Brussels-based life sciences company that provides analytical testing services to the pharmaceutical, food and environmental industries.
| Issuer: | Eurofins Scientific
|
| Issue: | Senior debt offering (Schuldschein loan)
|
| Amount: | €170 million
|
| Maturities: | Five years, seven years
|
| Coupon: | Six-month Euribor plus 180 bps (variable tranches) or mid-swap plus 220 bps (fixed tranches)
|
| Distribution: | Private placement
|
| Purchasers: | International investors
|
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