Labco to redeem €270 million of senior secured notes due 2018 at 104.25

By Susanna Moon

Chicago, April 29 – Labco SA said it will redeem €270 million of its €700 million senior secured notes due 2018.

The notes will be redeemed on May 29 at 104.25% of par plus accrued interest to but excluding the redemption date, according to a company notice. The record date is May 28.

The redemption price is expected to be €290,017,500, which consists of €281,475,000, or 104.25% of par, plus accrued interest of €8,542,500.

The redemption is conditioned on the closing of an equity offering raising at least €300 million by the redemption date, the company noted.

Labco is a Paris-based clinical laboratory operator.

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