NEW YORK – Thermo Fisher Scientific said today that it plans to redeem two classes of senior notes later this month that have a total aggregate principal amount of $1.1 billion.
In a filing with the US Securities and Exchange Commission, the company said it has notified the holders of its 4.7 percent senior notes that it will redeem the entire $300 million aggregate principal amount of the notes, which are due 2020. Additionally, it will redeem $800 million of its 3.15 percent senior notes, due 2023.
Both classes of notes will be redeemed on Sept. 27, Thermo Fisher said.
The 2020 notes and the 2023 notes will each be redeemed in one of two ways, whichever the greater price. The price will be either 100 percent of the principal amount of the notes or the sum of the present values of the remaining scheduled payments, discounted to the redemption data on a semi-annual basis at a comparable treasury rate plus 15 basis points, plus accrued and unpaid interest to the redemption date.
Thermo Fisher expects to finance the redemptions through issuing new debt.