Document › Details
Thermo Fisher Scientific Inc.. (4/20/10). "Press Release: Thermo Fisher Scientific Announces Offering of Senior Notes". Waltham, MA.
|Region||United States (USA)|
|Organisation||Thermo Fisher Scientific Inc. (NYSE: TMO)|
|Group||Thermo Fisher (Group)|
|Product||laboratory equipment and instruments|
|Product 2||investment banking|
|Index term||Thermo Fisher–SEVERAL: credit, 201004 sale $450m 3.2% Senior Notes due 2015 to refinance outstanding debt|
|Index term 2||Thermo Fisher–SEVERAL: credit, 201004 sale $300m 4.7% Senior Notes due 2020 to refinance outstanding debt|
Thermo Fisher Scientific Inc. (NYSE: TMO) announced today that it intends to offer approximately $750 million of senior notes to refinance outstanding indebtedness.
The company plans to use the proceeds of the offering to redeem all Floating Rate Convertible Senior Debentures due 2033 (the "2033 Convertible Notes") that remain outstanding on May 10, 2010, the redemption date selected by the company, and to settle in cash any 2033 Convertible Notes presented for conversion on or prior to May 6, 2010 (the date that is two business days prior to the redemption date). The redemption has been separately announced by the company.
As of April 20, 2010, approximately $174 million in aggregate principal amount of 2033 Convertible Notes is outstanding. The company expects that holders will convert their 2033 Convertible Notes prior to the redemption date, which would result in a total payment (including principal and premium) of approximately $315 million based on yesterday's closing price of the company's common stock.
In addition, Thermo Fisher intends to use the proceeds of the offering to redeem all outstanding 6 â...'% Senior Subordinated Notes due 2015 (the "6 â...'% notes") at a redemption price of $1,030.63 per $1,000 on July 1, 2010. The company expects to formally call the 6 â...'% notes for redemption in May 2010. As of April 20, 2010, $500 million in aggregate principal amount of 6 â...'% notes is outstanding.
Thermo Fisher intends to use any proceeds remaining from the sale of the notes after the redemptions for general corporate purposes.
The joint book-running managers for the offering are Banc of America Securities LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Barclays Capital Inc. and RBS Securities Inc.
Thermo Fisher has filed a registration statement on Form S-3 (including a prospectus) with the Securities and Exchange Commission (the "SEC") for this offering. Prospective investors should read the prospectus forming a part of that registration statement and the preliminary prospectus supplement related to the offering and the other documents that the company has filed with the SEC for more complete information about the company and this offering. These documents are available at no charge by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, these documents will be made available upon request by the company or by any underwriter or dealer participating in the offering. Interested parties may obtain a prospectus from Banc of America Securities LLC by directing a request to Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, 3rd Floor, New York, NY 10001, or by calling 1-800-294-1322; from Deutsche Bank Securities Inc. by directing a request to Deutsche Bank Securities Inc., Attn: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311, or by calling 1-800-503-4611; or from J.P. Morgan Securities Inc. by directing a request to J.P. Morgan Securities Inc., 383 Madison Avenue, New York, NY 10179, Attn: High Grade Syndicate Desk - 3rd Floor or by calling 212-834-4533.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall there be any offer, solicitation or sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the company's Annual Report on Form 10-K for the year ended December 31, 2009, under the caption "Risk Factors," which is on file with the SEC and available in the "Investors" section of the company's Website under the heading "SEC Filings." Important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: competition and its effect on pricing, spending, third-party relationships and revenues; the need to develop new products and adapt to significant technological change; implementation of strategies for improving internal growth; general worldwide economic conditions and related uncertainties; dependence on customers' capital spending policies and government funding policies; the effect of exchange rate fluctuations on international operations; use and protection of intellectual property; the effect of changes in governmental regulations; the effect of laws and regulations governing government contracts; the effect of competing with certain of the company's customers and suppliers; and the effect of healthcare reform legislation. While the company may elect to update forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, even if its estimates change and, therefore, you should not rely on these forward-looking statements as representing the company's views as of any date subsequent to today.
Thermo Fisher Scientific Inc.
Media Contact Information:
Karen Kirkwood, 781-622-1306
Investor Contact Information:
Ken Apicerno, 781-622-1294
Record changed: 2016-03-19
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