NEW YORK (GenomeWeb) – Thermo Fisher Scientific announced late Wednesday that it has priced an offering of $1.2 billion aggregate principal amount of its 2.950 percent senior notes due 2026 at the issue price of around 98.8 percent of the principal amount.
The issuance is expected to close on or about Sept. 19, and the firm said it plans to use much of the proceeds to redeem all of the outstanding $900 million aggregate principal amount of its 1.30 percent senior notes due 2017, which mature on Feb. 1, 2017. The remaining proceeds will be used for general corporate purposes.
JP Morgan Securities, Citigroup Global Markets, and Deutsche Bank Securities are acting as joint book-running managers for the offering.
On Aug. 3, the company announced in a US Securities and Exchange Commission filing that it would issue €600 million ($674 million) of floating rate senior notes due 2018, and planned to use a portion of that money to repay all the outstanding indebtedness under the term loan facility it entered into on March 7 to help fund its acquisition of Affymetrix.
On Sept. 7, Fitch Ratings assigned a BBB rating with a Stable outlook to a further €1.6 billion senior notes offering, which it expected Thermo Fisher to use to help finance its planned $4.2 billion acquisition of electron microscopy firm FEI, announced in May.
Thermo Fisher shares rose 1 percent to $149.69 in morning trading on the New York Stock Exchange.