Biogroup plans full refi after acquisition spree

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By Owen Sanderson
20 Jan 2021

Biogroup LCD is planning to refinance its full capital structure and tap the bond market for the first time after a string of recent debt-funded acquisitions. The French lab testing company was a notable casualty of the first wave of Covid-induced market chaos, forced to postpone its plans for a loan in March and then having to pay up when it returned for the financing in June.

On offer is a term loan 'B' of €1.4bn-€1.65bn, to be accompanied by a secured bond making up the balance of the €2.25bn at the top of the capital stack. There will also be a €250m unsecured issue.

This new cash is intended to repay a €2bn first ...

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