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Thermo Fisher Scientific Prices $2.95B Senior Notes Offering

NEW YORK – Thermo Fisher Scientific said on Monday night that it has priced an offering of $2.95 billion in senior notes. 

According to the firm, $600.0 million of the senior notes are due in 2026 with an interest rate of 4.953 percent; $750.0 million of the notes are due in 2030 with an interest rate of 4.977 percent; $1.00 billion of the notes are due in 2033, with an interest rate of 5.086 percent; and $600.0 million of the notes are due in 2043 with an interest rate of 5.404 percent. 

The offering is expected to close on or about Aug. 10, subject to customary closing conditions, and the notes will pay interest on a semiannual basis. 

Thermo Fisher intends to use the net proceeds from the notes to redeem all of the outstanding $500.0 million floating rate senior notes due in 2023, all of the outstanding $500.0 million floating rate senior notes due in 2024, and to pay accrued interest, fees, and expenses associated with their redemption. 

In addition, the firm plans to use the proceeds for general corporate purposes, which may include the acquisition of companies or businesses, repayment and refinancing of debt, working capital, and capital expenditures. 

The joint bookrunning managers for the new notes are BNP Paribas Securities, Citigroup Global Markets, Goldman Sachs, and Mizuho Securities USA. 

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