IMAP Florida advises on the sale of Nature's Logic to Mid America Pet Food
In addition to using only 100% natural ingredients, Nature’s Logic has emerged as an industry leader in the ESG space.
BIOGROUP secured a EUR1.45 billion 7-year term loan priced at E+350 with a 0% floor offered at 99.75; an EUR800 million 3.375% senior secured bond due February 2028; and a EUR250 million 5% unsecured bond due February 2029. Simultaneously, it secured a new Revolving Credit Facility of EUR271 million with 9 banks.
This landmark transaction enables BIOGROUP to diversify its lender base, increase its financing capacity, extend the maturity of its debt, and drastically reduce its interest cost by refinancing a former PIK debt. Despite its B-/B2neg/B ratings, this refinancing was record breaking, with the; (i) tightest loan pricing in Europe over the last 12 months; (ii) joint tightest priced B corporate rated bond; (iii) tightest debut single B Healthcare bond ever and; (iv) tightest CCC rated unsecured bond premium since 2017.
BIOGROUP, the leading player in France and Belgium at the forefront of the fight against COVID-19, is benefiting from the tremendous momentum created in recent months and excellent market conditions.
Majority-owned by the French and Belgian shareholders, Doctor Stéphane Eimer and Straco respectively, BIOGROUP operates over 742 labs in France and Belgium, with a pro-forma revenue of EUR1.3 billion.
Degroof Petercam acted as financial and rating advisor to BIOGROUP in this transaction. Degroof Petercam is the leading player in M&A and financing advisory in the medical lab testing industry, with 12 transactions completed since January 2020.
Dr. Stéphane Eimer, Chairman of BIOGROUP declared
“This financing transaction is a key step in the development of BIOGROUP. I want to personally thank the lenders and investors who join our adventure. We now have the tools to continue the successful development in Europe by preserving our DNA of a group led by biologists. The health crisis related to COVID-19 has enabled us to demonstrate our key public health role.”
Apremeda is the exclusive distributor of Dr. Wolff products in the Czech and Slovak Republics
Using Uncrewed Surface Vessels, XOCEAN provides turnkey data collection services to surveyors, companies and government agencies.