By Cristal Cody
Tupelo, Miss., Sept. 4 – Eurofins Scientific S.E. priced €300 million of 2 7/8% perpetual hybrid notes in a Regulation S offering on Wednesday, according to a news release.
Initial price talk was in the 3 3/8% area.
The transaction was more than 3.5 times oversubscribed.
The securities are callable on Aug. 11, 2022.
Citigroup Global Markets, Credit Agricole, MUFG and Natixis were the bookrunners.
Proceeds will be used for general corporate purposes, including the refinancing of €300 million of hybrid notes with a first call date of Jan. 31, 2020 that are under a tender offer.
Eurofins Scientific is a Luxembourg-based group of laboratories that provides testing and support services to governments and industries including in pharmaceuticals, food and agriscience.
| Issuer: | Eurofins Scientific S.E.
|
| Amount: | €300 million
|
| Maturity: | Perpetual
|
| Description: | Hybrid notes
|
| Bookrunners: | Citigroup Global Markets, Credit Agricole, MUFG and Natixis
|
| Coupon: | 2 7/8%
|
| Call feature: | Aug. 11, 2022
|
| Trade date: | Sept. 4
|
| Settlement date: | Sept. 11
|
| Distribution: | Regulation S
|
| Price guidance: | 3 3/8% area
|
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