Labco to tap 2018 bonds for €100m
Labco, the French laboratories company, announced a €100m tap of its 2018 notes on Tuesday. The add-on to the 8.5% senior secured notes may be priced tomorrow (Wednesday).
The company is planning to use the proceeds to repay outstanding amounts borrowed under its revolving credit facility and for general corporate purposes.
Deutsche Bank, Barclays and Natixis are bookrunners.Labco issued 500m of 2018 notes with an 8.5% coupon in 2011. The notes closed just above 7% on Monday. ...