MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Thermo Fisher prices $5.72B in senior notes offerings

Thermo Fisher prices $5.72B in senior notes offerings

By

Thermo Fisher ScientificThermo Fisher Scientific (NYSE:TMO) said today that it has priced an aggregate principal offering of €4.4 billion ($4.82 billion USD) of euro-denominated notes and a separate $900 million aggregate principal offering of USD-denominated notes.

The euro offering is expected to close on or about September 30, 2019, and the USD offering is expected to close on or about October 8, 2019. The euro notes will pay interest on an annual basis and the USD notes will pay interest semi-annually. The closing of either offering is not contingent on the closing of the other, the Waltham, Mass.-based company said.

Thermo Fisher intends to use the net proceeds, together with cash on hand, to repay commercial paper issued to fund the redemption on September 27, 2019, of $300 million aggregate principal amount of its 4.70% senior notes due 2020 and $800 million aggregate principal amount of its 3.15% senior notes due 2023. Some of the net proceeds will fund the redemption of an approximately $4.5 billion aggregate principal amount of outstanding senior notes issued by Thermo Fisher or its subsidiaries, including all of the outstanding 6.00% senior notes due 2020 and 5.00% senior notes due 2021 issued by its subsidiary Life Technologies Corporation.

The joint book-running managers for the Euro Offering are Goldman Sachs & Co., Merrill Lynch International, Citigroup Global Markets Limited and J.P. Morgan Securities plc. The joint book-running managers for the USD Offering are Goldman Sachs & Co., BofA Securities, Inc., Credit Suisse Securities (USA) and HSBC Securities (USA) Inc.

More information on the offerings is available here.

In case you missed it

RSS From Medical Design & Outsourcing

  • Thermo Fisher Scientific ticks up on Street-beating Q3 results
    Thermo Fisher Scientific (NYSE:TMO) today posted third-quarter results that beat the overall consensus on Wall Street. The Waltham, Massachusetts–based laboratory supply company reported profits of $1.9 billion, or $4.79 per share, on sales of $9.3 billion for the three months ended Oct. 2, for a bottom-line loss of 1.6% on sales growth of 9.49% compared with… […]
  • Emerson introduces new miniature rocker isolation valve for clinical lab instruments
    Emerson (NYSE:EMR) has launched the ASCO Series 062 rocker isolation valve, designed for hematology and immunoassay analyzers, sample preparation and pre-analytical, as well as DNA sequencing instruments. The St. Louis, Missouri-based company said the two-way and three-way valves are compact at 16mm, allowing for easy integration into complex fluid-handling manifolds while reducing their footprint, weight… […]
  • Medtronic faces longer road to renal denervation
    Medtronic (NYSE:MDT) will continue the clinical study of its Symplicity Spyral renal denervation (RDN) system for hypertension into next year after lacking the positive results needed to end enrollment early. Fridley, Minnesota-based Medtronic said last month that it hoped to present results of the Spyral HTN-ON MED trial at the Cardiovascular Research Foundation’s TCT Conference… […]
  • Cadence is expanding in Pennsylvania
    Cadence (Staunton, Virginia) announced today that it is expanding its Product Realization Center in Cranberry Township, Pennsylvania. The company expects to finish the 21,000-square-foot expansion by March 2022. The expanded manufacturing footprint will include an additional Class 7 (10,000) cleanroom by the end of 2022. “Everything lined up so well for this expansion to take… […]
  • 3M beats The Street in Q3 as healthcare sales increase year-over-year
    3M (NYSE:MMM) shares rose slightly today on third-quarter results that topped the consensus forecast. The Maplewood, Minnesota-based company posted profits of $1.4 billion, or $2.45 per share, on sales of $8.9 billion for the three months ended Sept. 30, 2021, for a 0.3% bottom-line gain on sales growth of 7.1%. Earnings per share registering at… […]
  • Powering MRIs: 3 RF interconnect considerations to save time and money
    RF interconnects, including coaxial cables and connectors, are an integral part of MRI systems. Early awareness of challenges such as transmission loss, ease of installation and infrastructure requirements can help with performance and cost optimization in the design of new MRI systems. Kai Loh, Times Microwave Systems Magnetic resonance imaging (MRI) technology has advanced rapidly… […]
  • European approval ‘a big deal’ as Medtronic moves forward with Hugo surgical robot
    There’s excitement at Medtronic after the Hugo robotic surgery platform hit a major regulatory milestone. In 2012, Covidien formed an incubator called “Project Einstein,” focusing on combining robotic technology, data and analytics. What could they create? About nine years later, the product that emerged from Project Einstein made a significant step forward when the Hugo robotic-assisted… […]
  • Orchid announces hiring of chief quality, regulatory and EH&S officer
    Orchid (Holt, Michigan) announced that Lourdes De Cardenas Alfonso has joined the company as chief quality, regulatory and EH&S officer — effective today. Lourdes joins the orthopedic implants outsourcer from Medical Card System (MCS), where she was EVP of innovation. She has over 30 years of experience in quality control, regulatory affairs, technical services, business… […]
  • Nitto Kohki introduces vacuum pump for pick-and-place applications
    Nitto Kohki USA today announced the introduction of a standalone vacuum pump device that it says is ideal for pick-and-place applications, The LV-125A (Linicon) vacuum pump is particularly useful when house air is not available, according to the company. The pump is compact, lightweight, and features an oil-less design so that it can easily fit… […]
  • October 2021 Issue: Women in Medtech
       How Hologic made a major pandemic pivot: CFO Karleen Oberton reflects on key decisions and turning points of the COVID-19 pandemic. Insulet CEO Shacey Petrovic is pumped up to launch Omnipod 5 Boston Scientific’s Meghan Scanlon forecasts the future of urology There is still a long way to go to close the gender… […]
  • Study finds single-use bronchoscopes reduce hospital readmission rates by half
    A study of 14,228 bronchoscopy procedures found sterile, disposable scopes reduced readmission rates by more than half. The study, authored by Ambu consultant Dr. Hudson Garrett, analyzed procedures at inpatient hospitals as well as outpatient ambulatory facilities. He found that 3.6 percent of patients treated with a single-use, flexible bronchoscope were readmitted within 30 days,… […]