(CercleFinance.com) - Eurofins Scientific (rated Baa3 by Moody's and BBB- by Fitch) has announced the successful issue of a new €500m Schuldschein bond offering a blended interest rate of 3.8% with an average maturity of 6.4 years.
The new Schuldschein bond is structured in 5-, 7- and 10-year tranches, with 66% of the transaction on the 7- and 10-year maturities. Demand was strong, with the order book totalling over 1.6x the final amount of the issue.
The proceeds of the new issue will be used primarily to refinance the €234m Schuldschein loans that mature in July and October 2025 respectively. The remainder will be used for general corporate purposes.
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