Skip to main content
Premium Trial:

Request an Annual Quote

Thermo Fisher Secures $12.5B Loan Agreements to Fund Purchase of Life Tech

NEW YORK (GenomeWeb News) – Thermo Fisher Scientific said after the close of the market on Tuesday that it has entered into a bridge credit agreement and a term loan agreement that together total $12.5 billion to help finance its proposed $13.6 billion acquisition of Life Technologies.

The bridge credit agreement is a 364-day unsecured committed bridge facility in the principal amount of $7.5 billion. The agreement is among the Thermo Fisher, an unnamed foreign subsidiary of the company, and several banks and other financial institutions, Thermo Fisher said in a document filed with the US Securities and Exchange Commission.

The institutions that have agreed to lend money to Thermo Fisher in connection to the bridge credit agreement include JP Morgan Chase Bank, Barclays Bank, Credit Suisse, Goldman Sachs, Citibank, and Morgan Stanley Senior Funding, among others.

The term loan agreement is a three-year unsecured term loan facility in the principal amount of $5.0 billion among Thermo Fisher, its unnamed foreign subsidiary, and several banks and other financial institutions.

Thermo Fisher's acquisition of Life Tech is expected to be completed in early 2014.