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Labco to redeem all €700 million of senior secured notes due 2018
By Tali Rackner
Norfolk, Va., July 13 – Labco SA will redeem all €700 million of its senior secured notes due 2018, according to a filing with the London Stock Exchange.
The notes will be redeemed at 104.25 plus accrued interest up to but excluding the redemption date of Aug. 12. The record date is Aug. 11.
The total redemption price is expected to be €734,212,500.
The redemption is conditioned on the closing of the acquisition of Labco by a subsidiary of funds managed by Cinven Capital Management (V) LP and the release of proceeds held in escrow from the offering by Ephios Bondco plc, an indirectly owned subsidiary of Cinven, of €500 million principal amount of 6¼% senior secured fixed-rate notes due 2022 and €300 million principal amount of senior secured floating-rate notes due 2022 on or before Aug. 12.
Labco is a Paris-based clinical laboratory operator.
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