Eurofins distils tight coupon for latest hybrid

On Monday, French laboratory testing company Eurofins Scientific followed last Monday’s €299m equity sale with a €300m hybrid deal paying very little new issue premium, as the firm’s funding keeps pace with its acquisitions.

  • By Nigel Owen
  • 06 Nov 2017

Monday’s deal was the fourth hybrid issued by the unrated borrower, having sold its first in 2007. That bond, with an 8.081% coupon, was refinanced in 2013 with a hybrid carrying a 7% coupon.

The 7% hybrid was doubled in size in 2014, when it ...

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