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     434  0 Kommentare Eurofins Announces the Success of its Tender Offer on its 300M€ Outstanding Hybrid Notes With a First Call Date on 31 January 2020

    Regulatory News:

    Eurofins Scientific (Paris:ERF) (ERF FP, unrated), a global leader in bioanalytical testing (the “Company”), announces today the results of the tender offer in respect of its outstanding EUR 300,000,000 deeply subordinated fixed to variable rate notes.

    On 3 September 2019, the Company announced the launch of a tender offer (the “Tender Offer”) to repurchase its outstanding EUR 300,000,000 undated deeply subordinated fixed to variable rate notes with a first call date at the option of the Company on 31 January 2020 (ISIN: XS0881803646) (the “Existing Notes”).

    As at the expiration deadline (10 September 2019, 4pm CET), the Company had received valid tenders of EUR 241,600,000 in aggregate principal amount of the Existing Notes.

    The Company has decided to accept for purchase all Existing Notes validly tendered pursuant to the Tender Offer. Settlement of the purchase is expected to take place on 13 September 2019.

    Following the completion and settlement of the Tender Offer on 13 September 2019, more than 75 per cent of the initial aggregate principal amount of the Existing Notes will have been purchased and cancelled by the Company. Therefore, in compliance with the terms and conditions of the Existing Notes, the Company will have the option to redeem all of the remaining Existing Notes that were not validly tendered for purchase pursuant to the Tender Offer at their principal amount together with accrued interest thereon up to the effective date of the redemption of those remaining Existing Notes, subject to the required notice period.

    The Company intends to exercise this option following the settlement of the Tender Offer. Upon exercise of this option and purchase of the remaining Existing Notes, the Company will have properly completed the refinancing of its Existing Notes by the new EUR 300,000,000 hybrid notes issued today (the “New Notes”), and will face no major debt or hybrid capital refinancing issue until January 2022.

    As announced on 4 September 2019, those New Notes have no specified maturity and will bear a fixed annual coupon of 2.875% for the first 3 years, upon which Eurofins can elect to repay them. It will bring the average weighted cost of the Company’s hybrid capital below 3.70% (after full repayment of the Existing Notes).

    This document contains inside information for the purpose of Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, as amended.

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    Eurofins Announces the Success of its Tender Offer on its 300M€ Outstanding Hybrid Notes With a First Call Date on 31 January 2020 Regulatory News: Eurofins Scientific (Paris:ERF) (ERF FP, unrated), a global leader in bioanalytical testing (the “Company”), announces today the results of the tender offer in respect of its outstanding EUR 300,000,000 deeply subordinated fixed to …