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Thermo Fisher Scientific Prices $2.2B Senior Notes Offering

NEW YORK – Thermo Fisher Scientific said after the close of the market on Monday that it has priced an offering of $2.2 billion worth of senior notes.
The offering consists of $1.1 billion in senior notes with an interest rate of 4.133 percent due 2025 at the issue price of 100 percent of their principal amount; and $1.1 billion in senior notes with an interest rate of 4.97 percent due 2030 at the issue price of 100 percent of their principal amount.
The offering is expected to close on or about March 25, 2020, subject to customary closing conditions. The notes will pay interest on a semi-annual basis.
Thermo Fisher wants to use the net proceeds of the offering to pay in part for its planned $11.5 billion acquisition of Qiagen, announced earlier this month and anticipated to close in the first half of 2021, including paying back Qiagen's debt. 
In addition, it plans to use the proceeds for general corporate purposes, which may include the acquisition of companies, repayment and refinancing of debt, working capital and capital expenditures, or the repurchase of outstanding equity securities. 
JP Morgan Securities, Morgan Stanley, BofA Securities, Deutsche Bank Securities, and Mizuho Securities USA are joint book-running managers for the offering.
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