A&O assists Eurofins in recent equity and debt capital market transactions
22 May 2020
Allen & Overy has advised Eurofins Scientific (Eurofins) on a successful fundraising through the issuance of new shares and a bond issuance.
At a price of EUR 535 per share, Eurofins, a global leader in bioanalytical testing, successfully raised EUR 535 million following the issuance of 1,000,000 new shares to institutional investors. Eurofins will use the net proceeds to reinforce its capital structure and fund its Covid-19 testing capacities. Allen & Overy also assisted Eurofins with the raising of EUR 600 million in its latest senior unsecured Eurobond public issuance. This bond issuance was coupled with a tender offer for existing 2022 and 2023 bonds. Part of the proceeds from the new issuance were used to finance this liability management exercise.
With respect to the equity capital raising transaction, the Allen & Overy team comprised Partners Jacques Graas and Paul Péporté, Associate Guillaume Foillard and Trainee Max Sassel, based in Luxembourg, as well as Partner Diana Billik, Counsel Olivier Thebault and Senior Associate Karin Braverman, based in Paris.
With respect to the bond issuance and tender offer transaction, the Allen & Overy team, which was holding the pen on the bond and tender documentation, comprised Partner Paul Péporté, Associate Deborah Bagoudou and trainee Max Sassel, based in Luxembourg.