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Thermo Fisher Prices $3.2B in Senior Notes to Finance Life Tech Deal

NEW YORK (GenomeWeb News) – Thermo Fisher Scientific today announced that it has priced $3.2 billion worth of senior notes that will help fund a portion of its pending $13.6 billion acquisition of Life Technologies.

The firm has priced four series of notes: $900 million aggregate principal amount of 1.30 percent senior notes due 2017; $900 million aggregate principal amount of 2.40 percent senior notes due 2019; $1 billion aggregate principal amount of 4.15 percent senior notes due 2024; and $400 million aggregate principal amount of 5.30 percent senior notes due 2044. The notes will pay interest on a semi-annual basis.

The firm expects to close the issuance of the notes on Dec. 11.

Yesterday Fitch Ratings downgraded its long-term issuer default rating on Thermo Fisher to 'BBB' from 'BBB+' and assigned a 'BBB' rating to Thermo Fisher's proposed senior notes.

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