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Bio-Rad Plans $425M Notes Offering

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Bio-Rad Laboratories today said that it intends to raise $425 million through a public senior notes offering.

The firm said the notes would be due 2020, but it has yet to determine the interest rate and other terms.

Bio-Rad said that it intends to use proceeds from the offering, along with its cash on hand, to redeem all $225 million of its outstanding 7.5 percent senior subordinated notes due 2013 and all $200 million of its outstanding 6.125 percent senior subordinated notes due 2014.

Bio-Rad finished its third quarter ended Sept. 30 with $630.6 million in cash and cash equivalents and $107.4 million in short-term investments.

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