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Eurofins plans €300 million offering of hybrid perpetual bonds
By Wendy Van Sickle
Columbus, Ohio, Sept. 3 – Eurofins Scientific SE plans to issue up to €300 million of undated deeply subordinated fixed- to variable-rate notes, according to a news release.
The notes would be callable starting in August 2022 and would replace the company’s €300 million of hybrid notes with a first call date on Jan. 31. The company launched a tender offer for the existing hybrid notes on Tuesday.
The purpose of the tender offer and the planned issuance of new notes is to proactively manage the refinancing of the company’s outstanding hybrid notes, while taking advantage of favorable market conditions, according to the release.
Eurofins is a Luxembourg-based provider of food, environment and biopharmaceutical products testing services.
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