Eurofins successfully prices new EUR 600m senior unsecured Euro bonds in the context of the refinancing of its outstanding 2022 and 2023 bonds

Eurofins Scientific (ERF FP, unrated), a global leader in bioanalytical testing, announces that it has successfully raised EUR 600m in its latest senior unsecured Euro bond public issuance (“the Bonds”). The Bonds have a 6.2 years maturity (due on 17 July 2026) and will bear an annual fixed rate of 3.75%. The transaction was well received and more than 2 times over-subscribed.

As announced on 05 May 2020, the purpose of this refinancing exercise is to increase the average maturity of Eurofins’ debt instruments and to proactively manage the refinancing of its EUR 500m Bonds (ISIN: XS1174211471) due 27 January 2022 and its EUR 500M Bonds (ISIN: XS1268496640) due 30 January 2023 that are currently under tender offers, for which results are expected to be announced on 14 May 2020. In case the amount of bonds validly brought to the tender offers is lower than this new issuance amount, Eurofins intends to apply the issuance’s net proceeds to refinance its shorter-dated debt instruments (bank lines, commercial paper - NEU CP).

Comment from the CEO, Dr. Gilles Martin: “We are pleased with the result of our latest public bond issuance. It confirms once again, in spite of the uncertainty caused by the COVID-19 pandemic, the confidence of investors in Eurofins and the positive outlook of its business lines focused on testing for life. This early refinancing of part of our upcoming 2022 and 2023 debt maturities has been initiated out of an abundance of caution given the uncertain macroeconomic outlook and potential future markets volatility.”

BNP Paribas, BofA Securities, Danske Bank acted as Global Coordinators and CIC and UniCredit Bank acted as Active Bookrunners, altogether as Joint Lead Managers for the transaction.

The Bonds will be listed from their issue date (18 May 2020) on the regulated market of the Luxembourg stock exchange (ISIN: XS2167595672). The Bonds are not registered under the US Securities Act of 1933 as amended (the “Securities Act”), and may not be offered or sold in (i) the United States (as such term is defined in Regulation S under the Securities Act) unless registered under the Securities Act or pursuant to an exemption from such registration nor (ii) in any other jurisdiction where it is unlawful to do so.

For more information, please visit www.eurofins.com or contact:

Notes for the editor:

Eurofins – a global leader in bio-analysis

Eurofins Scientific, through its subsidiaries (hereinafter “Eurofins” or “the Group”), believes it is a global leader in food, environmental, pharmaceutical and cosmetics products testing and in agroscience CRO services. It is also one of the global independent market leaders in certain testing and laboratory services for genomics, discovery pharmacology, forensics, CDMO, advanced material sciences and in the support of clinical studies. In addition, Eurofins is one of the leading global emerging players in esoteric clinical diagnostic testing. With over 47,000 staff across a network of more than 900 independent companies in over 50 countries generally specialised by end client markets and operating more than 800 laboratories, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of biological substances and products, as well as providing innovative clinical diagnostic testing services. The Group’s objective is to provide customers with high-quality and innovative services, accurate results on time and, when requested, expert advice by its highly-qualified staff.

Eurofins is committed to pursuing its dynamic growth strategy by expanding both its technology portfolio and its geographic reach.

Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions and a very large range of testing methods.

As one of the most innovative and quality-oriented international companies in its industry, Eurofins is ideally positioned to support its

clients’ increasingly stringent quality and safety standards and the increasing demands of regulatory authorities and healthcare practitioners around the world.

Shares in Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).

Until it has been lawfully made public widely by Eurofins through approved distribution channels, 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.

Important disclaimer:

This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgment of Eurofins Scientific’s management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the information available to the Company’s management as of the date of publication, but no guarantee can be made as to their validity.

Download Press Release as PDF