Biogroup plans full refi after acquisition spree

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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