NEW YORK (GenomeWeb News) – Bio-Rad today said that it has commenced an exchange offer to exchange up to $300 million aggregate principal amount of its 8 percent senior subordinated notes due 2016 for any and all of its outstanding 8 percent senior subordinated notes due 2016 that were issued in a private placement.
Bio-Rad said that the sole purpose of the exchange offering is to fulfill its obligations with regard to the registration of the private notes. Any private notes that are not tendered for exchange in the offer will remain outstanding and continue to accrue interest, said Bio-Rad.
Bio-Rad announced the $300 million private placement of notes last spring.
The exchange offer will expire at 5:00 PM, New York City time, on Jan. 28, 2010, unless it is extended.