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Funding
Thermo Fisher Scientific prices offering of USD 2.5 billion in senior notes to fund general corporate requirements
Precision Medicine
Nov 29, 2023
Older updates:
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Precision Medicine
Dec 9, 2021
Precision Medicine

Precision Medicine

Nov 29, 2023

Thermo Fisher Scientific prices offering of USD 2.5 billion in senior notes to fund general corporate requirements

Funding

  • Genetic testing, CDx, and PGx provider Thermo Fisher Scientific has priced an offering of USD 2.5 billion worth of senior notes.

  • The split of these with reference to issue prices involves: USD 1 billion worth of notes with an interest rate of 5% due in 2023 priced at  99.931% of the principal value, USD 1 billion of notes with an interest rate of 5% due in 2029 priced at 99.772% of the principal value, and USD 500 million of notes due 2034, with an interest rate of 5.2% priced at 99.846% of the principal. The notes carry interest on a semi-annual basis.

  • Thermo Fisher expects to use the proceeds for general corporate purposes, including acquisitions and repayment/refinancing of debt and operational and capital expenditures.

  • The company expects to close the offering on or around December 5. The joint bookrunning managers for the notes are BofA Securities, Morgan Stanley, US Bancorp Investments, and Wells Fargo Securities.

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