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PerkinElmer Wins Approval to Amend Notes

NEW YORK, Nov. 8 (GenomeWeb News) - PerkinElmer has received the requisite consents approving its cash tender offer for outstanding notes, the company said today.


The company first announced the cash tender offer for any and all of its 8 7/8-percent Senior Subordinated Notes due 2013 on Oct. 25. As part of the offer, PerkinElmer solicited noteholders' consents to amend certain provisions of the notes and conditions under which the notes were issued.


Approximately 96 percent, or $260 million, of the $270 million outstanding principal amount of notes, have been tendered by the deadline, which was yesterday at 5:00 p.m. EST.


The notes' purchase price, determined today but not disclosed, is a "fixed spread" price, calculated using a yield equal to a fixed spread of 50 basis points plus the yield to maturity of the 3.000 percent US Treasury Note due Feb. 15, 2008. The price includes a consent payment that is equal to $20 per $1,000 principal amount of the notes.


The tender offer expires at 9:00 a.m. EST on Nov. 23.


PerkinElmer has retained Citigroup Corporate and Investment Banking and Goldman Sachs as the dealer managers and Global Bondholder Services Corporation as the depositary and information agent for the offer.

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