NEW YORK (GenomeWeb) – Thermo Fisher Scientific said last week that it has entered into a 364-day unsecured term loan facility in the principal amount of $1.5 billion.
The company may use the proceeds of the loans to help fund the acquisition of Patheon, which is estimated to be approximately $7.2 billion in total. This includes repayment of Patheon's debt and transaction costs incurred in connection with the acquisition.
The debt facility was established between Thermo Fisher; Bank of America, acting as the administrative agent; the lenders party; and Merrill Lynch, Pierce, Fenner & Smith, who is the sole lead arranger and sole bookrunner, Thermo Fisher said in a document filed with the US Securities and Exchange Commission.
Thermo Fisher announced the Patheon deal in May. It is expected to close around the end of the third quarter of 2017, subject to customary closing conditions.
Also last week, Thermo Fisher priced an offering of $1.5 billion of senior notes, also to fund the acquisition of Patheon.