By Devika Patel
Knoxville, Tenn., July 30 – Eurofins Scientific SE issued a €550 million Schuldschein with a 1.38% blended interest rate.
The financing includes tranches of four and seven years with an average maturity of five years, according to a news release. The tranches were both fixed and floating.
In the four-year tranches, the fixed rate tranche was priced at a fixed rate of 1.073% per annum and the floating rate tranche at a variable rate of 6-months-Euribor plus 95 bps per annum. In the seven-year tranches, the fixed rate tranche was priced at a fixed rate of 1.834% per annum and the floating rate tranche at a variable rate of 6-months-Euribor plus 130 bps.
This debt instrument bears the lowest rate in the company’s history, significantly reducing Eurofins’ average cost of debt, according to the press release.
BayernLB, BNP Paribas Securities Corp., HSBC Securities (USA) Inc. and UniCredit acted as joint arrangers and HSBC is the loan agent.
Eurofins is a Luxembourg-based provider of food, environment and biopharmaceutical products testing services.
| Issuer: | Eurofins Scientific SE
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| Issue: | Schuldschein
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| Amount: | €550 million
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| Maturity: | Five years (average)
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| Coupon: | 1.38% (blended)
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| Arrangers: | BayernLB, BNP Paribas Securities Corp., HSBC Securities (USA) Inc. and UniCredit
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| Distribution: | Private placement
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| Four-year fixed tranche
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| Maturity: | Four years
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| Coupon: | 1.073%
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| Four-year floating tranche
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| Maturity: | Four years
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| Coupon: | Euribor plus 95 bps
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| Seven-year fixed tranche
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| Maturity: | Seven years
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| Coupon: | 1.834%
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| Seven-year floating tranche
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| Maturity: | Seven years
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| Coupon: | Euribor plus 130 bps
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