EUROFINS SCIENTIFIC : Eurofins concludes loan issuance to further optimize balance sheet


July 27, 2011

Eurofins announces today that it has successfully concluded a EUR 170m Schuldschein loan ("Certificate of Indebtedness") offering, issued primarily to lengthen the Group's debt maturity. The non-listed senior debt instrument, arranged by Bayern LB, was oversubscribed, underscoring the attractiveness of Eurofins' business model, particularly at a time of global market uncertainty and volatility.

The financing exercise was taken with the view of extending the average maturity of Eurofins' debt profile, thereby providing the Group with flexibility to manage and respond to potential market opportunities swiftly. The issue carries maturity of 5 and 7 years, with interest rates of Euribor 6m (variable tranches) or mid-swap (fixed tranches) and a margin of 180bp or 220bp respectively, and was subscribed to by international investors, who are expected to hold the instrument to maturity. Given that the proceeds will be used to repay part of the existing debt, with the remainder to be held in cash, the exercise has neutral impact on the Group's debt ratios, and there are no changes to the existing covenants (namely 3.5x net debt to clean EBITDA and 1.5x net debt to equity).  

Dr Gilles Martin, CEO, comments, "The transaction enhances Eurofins' strategic flexibility and reinforces our financial capability to execute on our business plans and respond to compelling opportunities. The success of the issue highlights the attractiveness of our business model". 

For further information please contact:

Investor Relations                                                           

Phone: +32-2-769 7383                                                 


Notes for the editor:

Eurofins - a global leader in bio-analysis

Eurofins Scientific is a life sciences company operating internationally to provide a comprehensive range of analytical testing services to clients from a wide range of industries including the pharmaceutical, food and environmental sectors.

With about 9,500 staff in more than 150 laboratories across 30 countries, Eurofins offers a portfolio of over 100,000 reliable analytical methods for evaluating the authenticity, origin, safety, identity, composition and purity of biological substances and products. The Group is committed to providing its customers with high quality services, accurate results in time and, if requested, expert advice by its highly qualified staff.

The Eurofins Group is the world leader in food testing and one of the global market leaders in pharmaceuticals and environmental testing. It intends to pursue its dynamic growth strategy and expand both its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology to offer its clients unique analytical solutions and the most comprehensive range of testing methods.

As one of the most innovative and quality oriented international players in its industry, Eurofins is ideally positioned to support its clients' increasingly stringent quality and safety standards and the demands of regulatory authorities around the world.

The shares of Eurofins Scientific are listed on the NYSE Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).

Important disclaimer:

This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgement of Eurofins Scientific' management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the data available to the Company as of the date of publication, but no guarantee can be made as to their validity.

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