Thermo Fisher plans $2.1bn note sale to help fund Phadia buy
This article was originally published in Clinica
Executive Summary
Thermo Fisher Scientific is hoping to raise $2.1bn through a senior note sale to help pay for its €2.47 ($3.5bn) acquisition of Phadia. Thermo is planning to publicly offer $1bn of its 2.25% senior notes, due 2016, at an issue price of 99.826% of the principal amount; and $1.1bn of its 3.6% senior notes, due 2021, at an issue price of 99.809% of the principal amount. The note sale is expected to close on 16 August. Thermo agreed to purchase the Swedish allergy testing firm Phadia in May, in a move that will boost its speciality diagnostics offering (www.clinica.co.uk, 19 May 2011). The joint book-runners for the offering are Barclays Capital, Merrill Lynch, Pierce, Fenner & Smith, JP Morgan Securities, Deutsche Bank Securities, RBS Securities and Goldman, Sachs & Co.