NEW YORK – Thermo Fisher Scientific said on Tuesday that it has priced an offering of $1.2 billion of senior notes and an offering of €1.25 billion of senior notes.
Half of the USD-denominated notes are due in 2027 with an interest rate of 4.80 percent, while the other half of the notes are due in 2032 with a rate of 4.95 percent.
Thermo Fisher said the USD-based offering is expected to close on or about Nov. 21, 2022, and the notes will pay interest on a semi-annual basis. The joint book-running managers for the offering are BofA Securities, Citigroup Global Markets, and Deutsche Bank Securities.
For the euro-denominated notes, €500 million are due in 2026 with an interest rate of 3.20 percent, and €750 million are due in 2034 with a rate of 3.65 percent.
The euro-based offering is expected to close on or about Nov. 21, 2022, and the notes will pay interest on an annual basis. The joint book-running managers for the offering are Citigroup Global Markets, Deutsche Bank London Branch, and Merrill Lynch International.
Thermo Fisher said it intends to use the net proceeds from both notes for general corporate purposes, which may include the acquisition of companies or businesses, repayment and refinancing of debt, working capital, and capital expenditures. The company also said the funds can be used for the repurchase of its outstanding equity securities, or it may temporarily invest the net proceeds in short-term, liquid investments until they are used for their ultimate purpose.