France’s Labco sets roadshow for €800 million seven-year secured notes, plans to repay debt

By Paul A. Harris

Portland, Ore., June 9 – Labco SA plans to start a European roadshow on Wednesday for an €800 million offering of seven-year senior secured notes, according to a market source.

The roadshow wraps up on Friday, and the Rule 144A and Regulation S for life deal is set to price thereafter.

Joint bookrunner JPMorgan will bill and deliver. Barclays, Deutsche Bank, HSBC, Morgan Stanley, Natixis and UBS are also joint bookrunners.

The notes come with three years of call protection.

The company and its dealers expect single B credit ratings to be assigned to the notes, the market source said.

The issuing entity will be special purpose vehicle Ephios Bondco plc.

Proceeds will be used to refinance Labco debt following Cinven’s acquisition of a majority stake in the company in May.

Labco is a Paris-based laboratory company.

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