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PerkinElmer to Offer $800M in Senior Notes

NEW YORK – PerkinElmer said after the close of the market on Thursday it is offering $800 million in senior notes.

The Waltham, Massachusetts-based firm is offering $400 million aggregate principal amount of 2.550 percent senior notes due 2031 at an issue price of 99.965 percent of the principal amount and $400 million aggregate principal of 3.625 percent senior notes due 2051 at an issue price of 99.999 percent of the principal amount.

The notes will pay on a semi-annual basis, the company said.

PerkinElmer plans to use about $561 million of the net proceeds to repay debt under its senior unsecured revolving credit facility to fund part of its planned $591 million acquisition of Oxford Immunotec. The remaining proceeds will go toward the repayment at maturity of a portion of its outstanding €300 million ($359 million) aggregate principal amount of .600 percent senior notes due 2021.

JP Morgan, Bank of America Securities, and Wells Fargo Securities were the joint book-running managers for the offering, which is expected to close on March 8.