Thermo Fisher Scientific Inc. (TMO) is looking to put a lid on its pre-merger convertible debt.
The Waltham, Mass.-based manufacturer of laboratory and research instruments sold $750 million in new three- and five-year notes through a private placement with institutional buyers. Coinciding with the offering, the company launched a tender bid to buy back nearly $300 million in senior convertible notes dating back to before the 2006 merger between Thermo Electron Corp. and Fisher Scientific International Inc.